West Zone Concessionaire Maynilad Water Services, Inc. plans to increase its investment in New Clark City over the next five years as part of its long-term expansion strategy.
Ramoncito S. Fernandez, president and chief executive officer of Maynilad, said, “We are operating deep wells for New Clark City, which already exist inside New Clark City, and I think the main investment will come within five years.” Money Talks with Cathy Yang Wednesday on One News.
He said the company is focusing on serving commercial and industrial customers in its western concession area while exploring opportunities in emerging urban centres.
Maynilad and its partner, Korean Water Resources Corporation, have submitted an unsolicited proposal of P15 billion to the Public-Private Partnership Center to develop a water supply and management system for New Clark City.
The proposal is subject to approval by the Aadhaar Conversion and Development Authority (BCDA).
“This is a medium to long-term investment that we are making after our unsolicited proposal is approved by the BCDA,” Mr Fernandez said.
He also said the company is exploring partnerships with water districts that need sustainable and potable water supply within and outside the Bulacan and Cavite regions.
“These are the growth areas we are looking at in the future to create long-term value for Maynilad,” Mr Fernandez said.
Maynilad provides water and wastewater services in the western region, which includes 11 cities in Metro Manila, three of which have partial coverage, as well as parts of the province of Cavite.
Metro Pacific Investments Corp., the majority shareholder of Maynilad, is one of the three Philippine subsidiaries of First Pacific Co., Ltd., along with Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a subsidiary of PLDT Beneficial Trust Fund MediaQuest Holdings, Inc. A unit of, is interested in businessworld Through the Philippine Star Group, which he controls. — Sheldin Joy Talavera