Clark Water sets aside P1.26 B for system upgrade

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.