THE Economy and Development (ED) Council, formerly known as the National Economic and Development Authority (NEDA) Board, approved on Wednesday the 10-year extension of the concession agreements for Maynilad Water Services, Inc. and Manila Water Company, Inc.
In a statement, the Department of Economy, Planning and Development (DEPDev) said the ED Council approved the request of the Metropolitan Waterworks and Sewerage System to extend the Revised Concession Agreements of the two major water service providers.
The move aims to ensure sustained access to safe, reliable and affordable water for Metro Manila and surrounding provinces, DEPDev said.
The extension to January 21, 2047 from July 31, 2037 aligns the contracts with the legislative franchises of both concessionaires, as mandated by Republic Act Nos. 11600 and 11601.
DEPDev said the extension is expected to accelerate capital investments, minimize tariff pressures and secure long-term water supply. It is also projected to generate additional government revenues amounting to P50.3 billion.
“Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population. By aligning the concession agreements with legislative franchises, we are promoting policy coherence and long-term investment planning in the water sector, which are essential for delivering clean, reliable and affordable water services to millions of Filipinos,” ED Council vice chairperson and DEPDev Secretary Arsenio Balisacan said.
In a statement sent to reporters, Maynilad said: “We are aware of reports regarding the (former) NEDA Board’s action on our concession term extension. However, Maynilad has yet to receive formal communication on this matter, so we are unable to comment at this time.”
In addition to the water concession extension, the ED Council approved two new infrastructure projects financed through Official Development Assistance.
One of the approved projects is the P27.7 billion Farm-to-Market Bridges Development Program of the Department of Agriculture.
The program will construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions.
“By improving physical connectivity in farming and fishing communities, the Farm-to-Market Bridges Development Program addresses persistent infrastructure gaps that limit market access, increase post-harvest losses, and hinder rural productivity. It also aims to uplift rural incomes and improve food logistics, particularly in geographically isolated and disadvantaged areas,” Balisacan said.
The ED Council also gave the green light to the P5.1 billion Liloan Bridge Construction Project of the Department of Public Works and Highways.
The project involves constructing a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the deteriorated existing structure.
It 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. “The inaugural meeting of the Economy and Development Council sets the tone for a more integrated and responsive approach to development planning and investment programming,” Balisacan said. “By strengthening water resources, agricultural productivity and infrastructure connectivity, we aim to unlock greater economic opportunities and foster inclusive growth for more communities across the country.”
