Maynilad eyes further investments in New Clark City

WEST ZONE concessionaire Maynilad Water Services, Inc. plans to increase its investments in New Clark City over the next five years as part of its long-term expansion strategy.

“We’re operating deep wells for New Clark City for the immediate locators that are already there inside New Clark City, and I guess the main investments will come within five years,” Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said on Money Talks with Cathy Yang on One News on Wednesday.

He said the company continues to focus on serving commercial and industrial consumers in its west concession area while exploring opportunities in emerging urban centers.

Maynilad and its partner, Korean Water Resources Corp., have submitted a P15-billion unsolicited proposal to the Public-Private Partnership Center to develop a water supply and management system for New Clark City.

The proposal remains subject to approval by the Bases Conversion and Development Authority (BCDA).

“It’s a medium to long-term investment that we’re putting in once the BCDA will approve our unsolicited proposal,” Mr. Fernandez said.

He also said the company is exploring partnerships with water districts that require sustainable and potable water supply within and outside the Bulacan and Cavite areas.

“These are the growth areas that we’re looking at for the future, creating long-term value for Maynilad,” Mr. Fernandez said.

Maynilad provides water and wastewater services in the West Zone, which covers 11 cities in Metro Manila, three of which have partial coverage, as well as parts of Cavite province.

Metro Pacific Investments Corp., Maynilad’s majority shareholder, is one of three Philippine subsidiaries of First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera