By Czeriza
Valencia (The Philippine Star) | Updated May 7, 2013 - 12:00am
MANILA,
Philippines - Clark Water Corp., a subsidiary of Manila Water Co. Inc., has
earmarked P1.26 billion over the next five years to fund the improvement of its
services in anticipation of business in the economic zone.
Of the total
budget, P639 million will be allotted for the construction of 15 deep well
pumping stations fitted with chlorinators and 25 kilometers of transmission
lines to address the increasing demand of locators.
Around P338
million, meanwhile, will be used to finance the expansion of its wastewater
treatment lagoon and installation of 12.5 kilometers of sewer lines.
The balance
of the allocation will be used for the construction of new treatment plants and
development of long-term water sources.
“We have
developed our plans and programs to support the vision of Clark Development
Corp. (CDC) while addressing the current and future needs of existing locators
even as we continue to attract more investors in Clark,” said Jesus Laigo,
chief operating officer and general manager of Clark Water.
“We will
continue to invest in water and wastewater projects, improve service and
operational efficiency, and implement environmental projects to remain as a
sustainable partner of CDC and its locators,” he added.
In 2012, the
company spent P42 million to build a new treatment plant, new distribution
lines, and a deep well to augment its current water capacity.
This enabled
the company to triple its water supply capacity to 35 million liters of water
per day.
Clark Water
was formed in partnership with CDC, the administrative and governing body of
the Clark Freeport Zone and the Clark Special Economic Zone, to provide stable
water supply in the area until 2025.
The company
reported a net income of P85.9 million in 2012, up 20 percent from P71.4 million in 2011 on higher billed
volume.
Its revenues
grew 14 percent year-on-year while operating expenses were slightly reduced.
As of
end-2012, the company has 2,000 service connections, most of which are for
commercial and industrial locators.
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