Marcos extends Maynilad, Manila Water concessions by 10 years

President Marcos approved the extension of Maynilad Water Services Inc.'s and Manila Water Company Inc.'s water concession agreements by 10 years until January 21, 2047, generating an estimated P50.3 billion in government revenues.

At its inaugural meeting on Wednesday, chaired by President Marcos, the Economy and Development (ED) Council approved these extensions to ensure safe, reliable, and affordable water services in Metro Manila and nearby provinces while encouraging capital investments.

Maynilad Water Services has stated that it will ramp up long-term investments in water infrastructure following the 10-year extension of its revised concession agreement, which aligns with its legislative franchise ending in 2047.

Economy Secretary Arsenio Balisacan emphasized that the contract extension promotes policy coherence and long-term investment planning in the water sector, essential for delivering clean, reliable, and affordable services to millions of Filipinos.

The ED Council also approved two infrastructure projects: a PHP27.7-billion Farm-to-Market Bridges program by the Department of Agriculture and a PHP5.1-billion Liloan Bridge Construction Project by the Department of Public Works and Highways.