Manila Water sets aside P833M for service expansion in Rizal
MANILA Water Co., Inc. is set to spend P833 million this year for service expansion in Rizal province that will include 23 mainline extension projects, the water concessionaire said on Wednesday.
In a statement, the listed company said 11 mainline extension projects will be done in several municipalities in the province, namely: five in Baras, four in Rodriguez, and two in Binangonan.
The water service provider for Metro Manila’s east zone said once the projects are completed, “it would bring an improved water quality and increase water pressure to about 45,205 families in Rizal.”
This year, 10 mainline extension projects are set to be completed in Antipolo City.
“Individualization projects will also be done in Town and Country Executive Village in Antipolo and Aurora Subdivision in Angono,” the company said.
Manila Water has set a P181 billion for capital investments for the period of 2023 to 2027 for its water and wastewater projects.
The company said about P2 billion will be allocated for its service expansion program, which includes service expansion for the underserved and unserved areas in its service area, specifically the province of Rizal.
Last year, Manila Water said that it had installed a total of 33,070 new domestic water service connections, bringing its total water connections to nearly 1.10 million as of end-2022.
On Wednesday, shares in the company rose 3.02% or 60 centavos to close at P19.30 apiece. — Ashley Erika O. Jose