Manila Water allots P20B for 2016-2017
AYALA-LED Manila Water Co. is earmarking around P20 billion for capital expenditures this year and next, as the East Zone concessionaire aims to double last year’s nearly P6 billion profit by 2020.
“The capex for this year and next year — 2016 and 2017, which will be the last two years of the current rate rebasing period — is probably in the order of about P20 billion,” Gerardo C. Ablaza, Jr., president and chief executive officer of the listed water concessionaire, said in a press briefing on Monday.
“As to how they will be phased between this year and next year…we’re still finalizing our estimates,” he added.
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