MANILA, Philippines - Clark Water said it will invest P3.98 billion in its concession area in Clark Freeport and Special Economic Zones through 2040.
Clark Water Corp. and Clark Development Corp. recently signed a contract extending the concession agreement by another 15 years, which will end in 2040.
A unit of Manila Water, Clark Water is the sole water and used water services provider of the Clark Freeport and Special Economic Zones.
Of the P3.93 billion, Clark Water said P1.06B to be used in the first four years alone.
The capital expenditures will be used for various improvements of the company’s water and used water facilities in order to promote the Freeport Zone as an ideal business hub for multinational companies.
"The biggest chunk of our investment is allocated to source development for water projects and collection of used water. Source development includes the construction and commissioning of new water sources through the construction of new deep wells and infiltration wells. This also includes our on-going feasibility study in the possibility of tapping surface water. On the other hand, our used water collection project involves the replacement, reinforcement, and construction of new sewer lines," Jesus D. Laigo, Clark Water's general manager and chief operating officer, said.
This year, Clark Water has completed three new deep wells, upgraded three booster pumps, and installed generator sets on its old water sources to improve supply reliability.