Manila Water secures P15 billion loan from Metrobank

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December 25, 2025 | 12:00am

MANILA, Philippines — Manila Water Co. of tycoon Enrique Razon Jr. has obtained financing of up to P15 billion from Metropolitan Bank & Trust Co. (Metrobank) to support its operations and expansion efforts.

In a regulatory filing yesterday, the water utility firm said it had signed a 10-year term loan facility with Metrobank to finance its capital expenditure (capex) projects and other general corporate requirements.

From January to September, the group’s capex reached P17.5 billion, with the East Zone concessionaire accounting for the bulk or roughly P14.88 billion.

Manila Water said the majority of the budget was earmarked for wastewater expansion, network reliability and water supply projects.

Subsidiaries Laguna Water and Estate Water, meanwhile, spent P1.2 billion and P700 million, respectively, for their greenfield and brownfield projects.

Earlier this year, Manila Water finalized a share purchase agreement with another Razon-led firm, Prime Infrastructure Capital Inc., to acquire the latter’s stake in WawaJVCo, the operator of the Wawa Bulk Water Supply Project in Rizal.

As previously disclosed, the total purchase price of P37.8 billion will be paid in installments, with the final payment targeted early next year.

Manila Water has said the WawaJVCo acquisition is aligned with its long-term operational and water security objectives.

“This will provide greater focus and flexibility in water resource allocation, while allowing for more efficient operations and overall cost management of the facility,” the company said.

The Wawa Bulk Water Supply project includes the Upper Wawa Dam, the largest water supply dam to be built in the Philippines in over 50 years.

For the holiday season, Manila Water has assured its 7.8 million customers across the east zone of Metro Manila and Rizal of uninterrupted water service.

While no major service interruptions are expected, the company said its operations team would remain vigilant and ready to respond to any emergency leak repairs.