Manila Water goals to double down on development technique

MANILA  -After reporting a report excessive capital expenditure (capex) in 2022, listed Manila Water Co. Inc. is anticipating regular development this yr supported by varied initiatives geared toward dealing with financial challenges head-on.

Manila Water president and chief government Jose Victor Emmanuel De Dios mentioned final yr’s capex was P20.6 billion, an enchancment from the earlier yr by some P7 billion.

Manila Water caps off 2022 with report P20.6 billion Capex

“This simply stresses and punctuates the dedication of our firm to try to ship providers throughout the board, each when it comes to water provide initiatives, wastewater initiatives, in addition to enhancing the supply of those providers to our prospects,” De Dios mentioned through the firm’s annual stockholders’ assembly final week.

Manila Water earlier earmarked about P181 billion for a five-year spending program, with extra initiatives anticipated to return on stream as much as 2027.

Among the many firm’s priorities this yr is the Calawis Water Provide System, which targets to have a complete capability of 80 million liters per day (MLD) as soon as accomplished.

It is usually set to complete the primary section of the 50-MLD East Bay venture this yr.

Based on De Dios, each will assist mitigate the influence of the looming El Niño phenomenon that’s anticipated to hit the nation within the latter a part of this yr.

“To be well-positioned to serve the general public even amid the financial challenges, we need to be certain that our capital spending meets each our water provide and sewerage service obligations,” De Dios mentioned.

The corporate reported a P5.9-billion web revenue in 2022, a rise from P3.7 billion the earlier yr.

Manila Water 2022 web revenue up 59% to P5.9B

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