Manila Water eyes conclusion of new concession talks 'at earliest possible date'

ABS-CBN News

Posted at Mar 22 2021 10:23 AM

MANILA - Manila Water Co Inc said Monday its discussions with the government panel on a new concession agreement is nearing conclusion. 

Justice Secretary Menardo Guevarra on Thursday said the government panel and Manila Water were aiming to conclude discussions before the end of the month.

"We confirm the report as the Company and the government panel have been engaged in discussions to finally conclude the new concession agreement. We are optimistic that this will come into fruition at the earliest possible date," Manila Water said in a disclosure to the stock exchange.

Discussions with Manila Water resulted in key financial and commercial terms, the DOJ has said, adding that negotiations with Maynilad would follow. 

President Rodrigo Duterte has criticized water concessionaires over "flawed" agreements that "rip off" Filipinos by billions.

Both Manila Water and Maynilad have earlier expressed willingness to cooperate with the government on new concession agreements.

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