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Manila Water and Maynilad were ordered to reduce tariffs by 29.47 percent and 4.82 percent respectively in five equal annual tranches over a period of five years, because "the utilities were unable to justify the need for higher rates based on their business and investment plans". [38]
Maynilad Water Services Inc. was formed in 1997 as a partnership of the Benpres Holdings Corporation (now the Lopez Group of Companies) and Ondeo Water Services Inc. after it won the bidding to run the water and wastewater services in the West Zone. Benpres eventually left the partnership in 2006 to settle a US$240 million debt.
The Ayalas own the controlling stake in Manila Water, while a company being run by Manuel V. Pangilinan is a shareholder of Maynilad along with the Consunjis. On November 26, 2019, Duterte slammed both private water firms of treating water like a commodity and not as a natural resource.
It is the east concessionaire of Metropolitan Waterworks and Sewerage System during its privatization on August 1, 1997, with its counterpart Maynilad Water Services, Inc. as the west concessionaire. The 25-year water concession agreement inked with MWSS was expected to terminate in 2022. In 2009, its concession agreement with the MWSS was ...
The MWSS Regulatory Office (RO) was created in August 1997 by virtue of the Concession Agreements signed between the MWSS and the two concessionaires, Manila Water Company, Inc. [11] for the East Zone and Maynilad Water Services, Inc. for the West Zone.
The Maynilad Water Services, Inc. was awarded the concession contract for the West Zone, while the Manila Water Company, Inc. was awarded the East Zone of Metro Manila. The concession contracts, which are expected to last for 25 years, included targets concerning coverage, service quality, and economic efficiency.
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The P717 million contract was awarded by MWSS and Maynilad to Cavite Ideal International Construction and Development. [ 7 ] [ 5 ] The project has been beset with delays and a suspension because of a flash-flooding incident resulting to the deaths of six workers and surveyors in 2016.