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Sunday, August 26, 2012

Stock News 2012: Maynilad spends P10.4B to bring down NRW

MetroWest Water Supply TunnelMetroWest Water Supply Tunnel (Photo credit: Wikipedia)
West Zone water concessionaire Maynilad Water Services has spent P10.4 billion since 2007 to reduce water loss due to leaking pipes and illegal connections, enabling it to recover supply for 374,980 new customers.

In a statement, the firm said that it has reduced water supply loss from 67 percent in 2007 to 43 percent as of June this year.

“We have spent P10.4 billion so far to reduce the so-called non-revenue water (NRW) and allowed us as a result to recover an average of 551 million liters per day (MLD) which we now pipe to 374,980 new consumers. In effect, this program gave us more water to serve more customers,” Maynilad president Ricky Vargas said.

Maynilad now has a total of more than one million consumers, up from only 667,000 in December 2006.

Vargas said Maynilad would continue to work on reducing water loss in its concession area.

“When you see us digging up roads, we are laying new pipes to reach heretofore unserved consumers and/or replacing old pipes. Either way, we are doing this to allow everybody the convenience of potable water supply throughout the day now and decades into the future,” he said.

Vargas said Maynilad is pushing farther into the south, particularly Cavite, while it continues to further connect consumers within its area in Metro Manila.

“We are doing all these at the same time. They require a lot of funds and we have been using our own money, borrowed funds, and collections from connected consumers to continue our expansion and rehabilitation programs. So far, we are ahead of our targets.

“We are actually supplying to more consumers than projected,” he said.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=841849

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