Manila Water Co. is earmarking P20 billion for capital expenditures this year and the next. The East Zone concessionaire aims to double 2015’s nearly P6 million revenue by 2020. The company has submitted a five-year business plan in accordance with its concession agreement with the government.
The last business plan submitted was in 2012, for the five years spanning 2013 to 2017. The two-year capex will be financed by loans secured last year. Manila Water Co. president Gerardo C. Ablaza, jr. says that the aim is to double the income by 2020 through the aggressive expansion of new businesses. The goal is for businesses, both local and foreign, to contribute as much as 50% of consolidated net income by 2020.
