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December 21, 2005 |
 Team Beach Hotshots’ Reema Chanco shares their experiences during the race while cousins Ira Dy and Jet Tan look on.
DBP has granted a P137-million term loan to Calapan Waterworks Corporation (CWC) to finance the rehabilitation and expansion of the firm’s existing water distribution system in Calapan City in Oriental Mindoro. The project marks DBP’s first partnership initiative with a private firm in the area of local water utilities.
“We are proud to join hands with the Calapan Waterworks Corporation for the improvement of its water distribution system in Calapan City. We are confident that this partnership will provide better access to safe and clean water for the residents of Calapan City, as well as help the city improve on its basic utilities critical to its development as a prime destination in Southern Luzon,” President and CEO Reynaldo G. David said.
The loan will enable CWC to install new facilities that will help the firm improve its service delivery to its existing service area comprising 21 barangays, as well as to introduce potable water to seven more barangays in the city. The project will likewise boost the firm’s bid to increase its number of service connections from 4,961 this year to 9,691 at the end of the ten-year design period in 2017, or an additional 5,130 connections.
Incremental connections are expected to start next year and will stabilize in 2011 as the source of water supply reaches the maximum level of 3.5 million cubic centimeters annually. Currently, CWC is serving less than half of its target market due to limitations in its water supply sources, transmission, and distribution system. Some residents of the city, as a result, have had to settle for peddled water that is much more expensive and unsafe. |
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