Maynilad Water Services Inc. is pushing for further network buildout in New Clark City, with its board approving investments in a P15-billion joint venture with a Korean firm.
In a regulatory filing on Thursday, the Pangilinan-led group said its board of directors gave the green light for new investments in a public-private partnership project with Korea Water Resources Corp. (K-Water) and the Bases Conversion and Development Authority (BCDA).
Earlier this year, BCDA said it was gearing up for a deal with Maynilad and K-Water, following both parties’ unsolicited offer submitted in October 2025.
According to BCDA President and CEO Joshua Bingcang, the deal could be valued at about P15 billion and may run for 50 years.
The project is expected to boost New Clark City’s water capacity to about 150 million liters per day from the current 20 to 30 million liters per day.
However, Maynilad said in the disclosure the project ‘contemplates a 25-year term.’
No other details on the proposed deal were disclosed.
Bingcang said in February the investment would help boost infrastructure in the area, subsequently supporting water-intensive sectors such as data centers.
In March, Maynilad president and CEO Ramoncito Fernandez also reiterated the group’s plan to inject more capital to improve water supply services inside New Clark City. Currently, Maynilad is operating deep wells in the area.
The group is the water and wastewater services provider for the West Zone concession area of the Metropolitan Waterworks and Sewerage System, which covers 17 cities and towns in Metro Manila and Cavite.
Fernandez said that while the firm remains focused on serving commercial and industrial consumers in the West Zone, Maynilad is also looking at emerging hubs for expansion.
In the first six months of 2026, Maynilad saw its profit climb 14 percent to P8.51 billion on stronger water sales and customer growth.
The firm’s revenues in the period also increased by 4.1 percent to P19.11 billion against the previous P18.35 billion.