- Published 2026.11.09 08:47
Maynilad actively seeks additional partnerships after New Clark City
15 billion peso New Clark City project likely to be won by year-end as sole bidder
Maynilad, the Philippines' largest private water utility, is pushing to expand cooperation with Korea Water Resources Corp. (K-water) for water infrastructure development across the Philippines. With the 15 billion peso (about 318 billion won) New Clark City water project likely to be secured, the two companies plan to broaden their partnership nationwide to improve poor infrastructure.
According to Maynilad on Nov. 9, the company is seeking additional cooperation opportunities with K-water in various water infrastructure projects in the Philippines beyond the New Clark City project. Ricardo de los Reyes, Maynilad's chief financial officer, said, "We hope to partner with K-water on various projects," adding that there are many opportunities across the Philippines.
Currently, the Philippines' water infrastructure is severely lacking outside the capital region of Metro Manila. According to Maynilad, the water supply service coverage rate in areas outside Metro Manila remains at about 50%.
The company explained that most residents rely on deep wells, which is highly unsustainable from the perspective of weather variability and the environment. CFO de los Reyes added, "There are so many opportunities that we need to decide which ones to prioritize."
The expansion of the partnership is based on the New Clark City water and sewerage project, for which a final contract is likely to be signed within this year. The project, promoted by the Philippines' Bases Conversion and Development Authority (BCDA), is a large-scale project to build and operate water and sewerage facilities in New Clark City for 25 years.
Through this project, New Clark City's water supply capacity, currently about 20 million liters per day, will increase to 150 million to 200 million liters. K-water will secure a 40% stake in the joint venture, while Maynilad and BCDA will each hold 30% and lead the business.
A stable water supply chain is directly linked to expanding New Clark City's industrial base. BCDA is developing New Clark City as a hub for high-value-added industries that require large-scale water resources, such as advanced manufacturing and data centers.
In August 2026, the K-water and Maynilad consortium obtained the status of "original proponent" for the project. BCDA then conducted a Swiss challenge competitive bidding until Oct. 20, 2026, allowing other companies to submit better offers, but no additional competitors participated.
Recently, Maynilad has continued to grow its earnings by expanding water and sewerage operations. In the first half of 2026, Maynilad's net profit rose 14% year-on-year to 8.51 billion pesos (about 180 billion won), driven by expanded service areas and continued infrastructure investment.
With the New Clark City project also concluded as a sole bid, only the signing of the main contract between the two companies remains. CFO de los Reyes said, "As there are no other bidders, we expect a decision to be made soon."
※ This article is an AI translation of the Korean original published by Korea Credit News; it was checked by automated quality guards and published by the English edition desk.
