Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Maynilad to Double Spending on Philippine Water Projects in 2013

Don't Miss Out —
Follow us on:

Jan. 23 (Bloomberg) -- Maynilad Water Services Inc. said it plans to more than double spending on Philippine water projects to 17.2 billion pesos ($423 million) this year, its biggest capital investment since it was privatized in 1997.

The utility, which provides water to half of Manila, said in a statement that it will use internal funds and a loan from the World Bank to finance its infrastructure spending.

“The previous years have been about water service transformation,” President Ricky Vargas said in the Jan. 20 statement. “Now that we have improved and expanded our water services in the West Zone, our next challenge is to accelerate our sewerage and septage coverage.’’

These projects ‘‘will require a lot of resources,’’ said Maynilad, a venture of DMCI Holdings Inc. and Metro Pacific Investments Corp.

Link to Company News:{DMC PM <Equity> CN <GO>} Link to Company News:{MPI PM <Equity> CN <GO>}

To contact the reporter on this story: Norman P. Aquino in Manila at naquino1@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.