August 01, 2013

Manila Water secures $100-M IFC loan

Manila Water Co. Inc. has signed an agreement with the International Finance Corp. for a $100-M term loan to finance its expansion program. The capex plan from 2013 to 2017 is approximately P60  B but this is still subject to MWSS (Metropolitan Waterworks and Sewerage System) approval in the current rate rebasing process.

Some of the projects lined up in its new business plan are the Taguig North Sewer Network 3 Project which would be the first major sewer network system project to be built by Manila Water since it started implementing its Wastewater Master Plan.

Construction of the project is slated from 2014 to 2016. The company is also expected to finish the construction of its P6.1 B sewage treatment plant in Taguig City in September. - WealthSec