BCDA grants original proponent status to Maynilad, K-water for P14.8-billion New Clark City project

The Bases Conversion and Development Authority has granted original proponent status to a consortium of Maynilad Water Services and Korea Water Resources Corp. for a P14.8-billion water and wastewater project in New Clark City, Tarlac. The project is expected to support upcoming residential, commerc

The Bases Conversion and Development Authority (BCDA) has granted original proponent status to a consortium of Maynilad Water Services, Inc. and Korea Water Resources Corp. (K-water) for a P14.8-billion water and wastewater project in New Clark City, Tarlac.

In a statement on Monday, the BCDA said the status was granted following its evaluation of and negotiations with the consortium. The public utility component of the project will be operated by a duly qualified entity, the state-run agency said.

The project is "intended to provide reliable utility services while ensuring that wastewater is properly treated in accordance with applicable environmental and wastewater treatment standards, supporting the responsible management of water resources as the metropolis expands," the BCDA said.

The agency said the project is expected to support upcoming residential, commercial, institutional, and industrial developments as New Clark City is positioned as a business hub in Luzon. An integrated water and wastewater system could also help attract locators from utility-dependent industries, including advanced manufacturing, data centers, and other high-value economic activities, it added.

The BCDA is targeting to award the contract by December 2026, subject to the outcome of the applicable public-private partnership (PPP) process and the completion of required approvals and other conditions. The project will undergo the required approval process before proceeding to a Swiss challenge in accordance with applicable rules. The process will allow other qualified private-sector proponents to submit competing proposals.

In a stock exchange disclosure last week, Maynilad said the proposed project would have a 25-year term. Metro Pacific Investments Corp., the majority owner of Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.