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Maynilad Water Services, Inc., better known as Maynilad, is the water and wastewater services provider of cities and municipalities that form the West Zone of the Greater Manila Area in the Philippines. It is an agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS). [1]
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.
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 ...
Through the MWSS New Water Source Development Project, approved in 2003 and ended in October 2008, ADB has contributed a total of US$3.26 million, whereas MWSS provided US$1.71 million. The joint-project sought to develop up to 3 water source projects for Metro Manila and to improve the financial management as well as the accounting and fiscal ...
The government did not call on Maynilad's performance bond, but rather took on three new foreign currency loans with a total value of US$431 million to finance the MWSS debt service. The government agreed to convert a small part of the unpaid concession fees, US$22.67 million, into an 84 percent equity share of Maynilad.
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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.