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Maynilad borrows P10 B to fund capex
The Philippine Star
|June 02, 2024
West Zone concessionaire Maynilad Water Services Inc. borrowed P10 billion from Metropolitan Bank & Trust Co. (Metrobank) to finance this year's capital requirements.
Maynilad has secured a 10-year loan from Metrobank to bankroll the improvement of water service coverage, increase water source and reduce non-revenue water.
The funding will also allow the water utility firm to improve its sewerage coverage and treatment facilities, upgrade water treatment plants and facilities and improve water availability.
"With this loan, we are in a better position to pursue our capital expenditure program that will further enhance water services for our over 10.3 million customers," Maynilad chief operating officer Randolph Estrellado said.
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