MANILA, Philippines — President Ferdinand Marcos Jr. approved the 10-year extension of the concession agreements with Maynilad Water Services Inc. and Manila Water Company Inc., Malacañang said Thursday.
Marcos, who heads the Economy and Development Council, formerly known as the National Economic and Development Authority Board, gave the green light to the request of the Metropolitan Waterworks and Sewerage System m to extend the Revised Concession Agreements of the two major water service providers during a meeting in Malacañang on Wednesday.
The new agreement extends the water firms’ concession periods from July 31, 2037 to January 21, 2047.
The move aims to ensure the continuous supply of clean water in the National Capital Region and neighboring provinces, the Presidential Communications Office (PCO) said in a Facebook post.
Maynilad and Manila Water are Metro Manila’s primary water providers, with Maynilad serving the west zone and Manila Water covering the east.
Apart from the extension of the water concession deals, the PCO said that Marcos also approved the P27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture (DA) and the P5.1-billion Liloan Bridge Construction Project of the Department of Public Works and Highways (DPWH).
The DA’s Farm-to-Market Bridges Development Program seeks to construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions.
The DPWH’s Liloan Bridge Construction Project, on the other hand, involves constructing a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the deteriorated existing structure.
The bridge project is expected to improve mobility and access for residents and travelers in the municipalities of Liloan, San Francisco, Pintuyan, and San Ricardo, while stimulating local economic activity and job creation in the region.