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Business

Manila Water sees Clark demand doubling in 5 years

The Philippine Star

MANILA, Philippines - Clark Water Corp., a unit of Manila Water Co. Inc., expects water demand in its concession area to double in five years amid brisk economic activity in the Clark Freeport Zone.

Virgilio C. Rivera Jr., president of Clark Water, said projected water demand in the economic zone is seen to rise by 47.6 percent to 62 million liters per day in the next five years from the current 42 million liters per day.

 Clark Water currently services 2,000 connections in the Clark Freeport Zone, 6.8 percent of which are industrial customers.

Rivera said the company has reduced system loss in its service area from 55 percent in 2000 to four percent this year.

It has also increased its supply capacity by more than 300 percent from 12 million liters per day in 2000 to its current supply level.

 “It is our mission to provide sustainable and high quality water supply and used water services to our customers,” Rivera said.

 Early this year, Clark Water signed a term loan agreement with the Rizal Commercial Banking Corp. to finance its capital expenditure program.

Clark Water was formed in 2000 in partnership with the Clark Development Corp., the administrative and governing body of the Clark Freeport Zone and the Clark Special Economic Zone, to provide stable water supply in the area.

In August last year, Clark Water signed with CDC a contract for the extension of its concession agreement by another 15 years or up to 2040 from the original concession period of until 2025.

The company pledged to invest P3.93 billion for the duration of the concession agreement with P1.06 billion programmed for expenditure in the first four years of the  extension of the service contract.

The amount will be used for the improvement of the company’s water and wastewater facilities in the Clark Freeport Zone.

 

 

CLARK

CLARK DEVELOPMENT CORP

CLARK FREEPORT ZONE

CLARK FREEPORT ZONE AND THE CLARK SPECIAL ECONOMIC ZONE

CLARK WATER

CLARK WATER CORP

IN AUGUST

MANILA WATER CO

RIVERA

RIVERA JR.

WATER

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