In a disclosure, Manila Water said Boracay Island Water Co. Inc. signed on Wednesday a loan agreement with BPI to fulfill its service obligations on the island. Boracay Water plans to use the loan to fund its general corporate requirements and refinance an existing loan, and will spend P2.20 billion in capex from 2018 to 2022. Boracay Water is a unit of Manila Water Philippine Ventures Inc. (MWPV), a wholly owned subsidiary of Manila Water. Earlier this year, the water company earmarked about P4.28 billion to meet increasing demand for a reliable water system and an improved sewage system. Manila Water provides water, sewerage and sanitation, distribution services, pipeworks, and management services to residential, commercial and industrial customers.

Source: Manila Times December 20, 2017 17:48 UTC