State-run Bases Conversion and Development Authority (BCDA) is reviewing an unsolicited public-private partnership proposal worth P15 billion from Korea Water Resources Corp. (K-Water) and Maynilad Water Services Inc. to build a water and wastewater management system in New Clark City in Tarlac province.
BCDA president and chief executive Joshua Bingcang said Thursday that the PPP Center has declared the proposal complete after multiple submissions from the proponents, which officially starts the formal evaluation period.
Under existing PPP rules, the BCDA has 10 days to decide whether to accept the proposal and enter negotiations, a process that could last up to 80 days.
“Yesterday, I received notice from the PPP Center that the unsolicited proposal of Korean K-Water for wastewater management in Clark City is already complete,” Bingcang said.
The project aims to provide integrated water supply and wastewater treatment services for the emerging hub. It is designed to expand the current capacity of 30 million liters per day to roughly 200 million liters per day once the site reaches full development.
The venture will be structured as a partnership where South Korea-based K-Water holds 40-percent equity to comply with foreign ownership limits. Maynilad Water Services Inc. is projected to hold 30 percent, while the BCDA will invest capital for the remaining 30 percent stake offered by the partnership.
Bingcang said the collaboration between K-Water and Maynilad grew from previous feasibility studies regarding water infrastructure in the Clark area. He said the proponents are prepared to increase their investment as the project moves forward.
The facility is scheduled to open by the third quarter of 2027. To ensure operational readiness, the BCDA intends to finish supporting infrastructure ahead of the commissioning date to allow for proper testing.
Bingcang said the proponents have already started preparatory work such as selecting developers and securing permits.
The BCDA said it is coordinating with all partners to ensure the project remains on schedule to support industries and future communities in New Clark City.
