Thursday, July 31, 2008 [ manilatimes.net ]
MAYNILAD Water Services Inc. is eyeing to improve service by year-end on the back of billions of pesos worth of capital expenditures this year.
On the sidelines of the stockholders meeting of DMCI Holdings Inc., Herbert Consunji, Maynilad chief operating officer, said the utility company expects to boost water supply by increasing pipe pressure to attain 24-hour service for 65 percent of the concessionaire’s market.
Consunji said the company is spending about P8 billion this year out of its P41 billion allocation for operations and capital expenditures.
“At present, about 54 percent, or three million of [our] customers are already enjoying 24-hour water supply and improved services such as high water pressure and potable water,” he said.
The executive said Maynilad still incurs 35 percent non-revenue water, which represents non-earning assets due to system leakages or illegal taps. The 35 percent non-revenue water amounts to a P23-million loss a day.
But with the ongoing improvements, the water firm expects to bring this down to P12 million a day, Consunji said.
“[We] are targeting to complete all the improvements in the next five years, instead of the original eight years,” he added.
Consunji also said DMCI has yet to increase its stake in Maynilad since it is no longer prudent to raise funds for the purpose. -- Katrina Mennen A. Valdez