The Metropolitan Waterworks and Sewerage System (MWSS) today approved the 15-year Concession Agreement term extension of Maynilad Water Services, Inc. (Maynilad), the private company providing water and wastewater services to the West Zone of the greater Manila area.
The extension of the Concession Agreement between Maynilad and MWSS to 2037 will enable the firm to increase its investments by more than 270%. From the P206 billion capital investment it submitted in its 2008 Business Plan, Maynilad now plans to spend P564 billion to accelerate and expand its service improvement projects in its concession area. The additional 15 years of operation will also provide Maynilad with a longer investment recovery period, thus trimming future water rate increases for its customers.
“The term extension is definitely a win-win for both the company and its stakeholders because it will enable us to take full advantage of long-term strategies for better water supply reliability and continued expansion in our unserved and under-served areas. It will also allow us to address critical environmental issues through intensified sewerage and sanitation services for our customers.” said Maynilad president Rogelio L. Singson during the signing of the extended Concession Agreement.
Maynilad is managed by DMCI-MPIC Water Company, Inc. - a joint venture between Metro Pacific Investments Corporation (MPIC) and DMCI Holdings Inc. (DMCI). The MPIC-DMCI consortium took control of Maynilad on January 24, 2007.
Maynilad serves the the cities of Manila (all but portions of San Andres & Sta Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the Districts of the Holy Spirit & Batasan Hills), Makati (west of South Super Hi-way), Caloocan, Pasay, Paranaque, Las Pinas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; Cavite City, and the towns of Bacoor, Imus, Kawit, Noveleta and Rosario, all in Cavite Province.
IN PHOTO: MWSS Chairman Jose Allado and Maynilad President Rogelio Singson formalize the extension of Maynilad’s Concession Agreement. Expressing their support are (L-R) MWSS officials and Maynilad Top Management: Trustee Ferdinand P. Mahusay, Trustee Virgilio Angelo, Trustee Aurora R. Arnaez, Gabriel S. Claudio (MWSS BOT Chairman), Jose Ma. K. Lim (MPIC President & CEO), Justice Oscar Garcia, Macra Cruz (MWSS Senior Deputy Administrator), Herbert M. Consunji (Maynilad COO), Randy T. Estrellado (Maynilad CFO), Atty. Marivic Espiritu (Maynilad Legal and Regulatory Affairs Dept. Head), and Manuel P. Quizon (Chief Regulator -- MWSS Regulatory office).