LINGAYEN, Pangasinan – Pangasinan provincial leaders are seeking a dialogue with Manila Water Company (MWC) Inc. to address the unexpected termination of their concession deal.
During a press conference on Tuesday, Pangasinan Governor Ramon Guico III expressed the province's willingness to collaborate with MWC on the project and awaited communication from the company.
The province was taken aback when MWC, a publicly listed company, informed the Philippine Stock Exchange (PSE) on Jan. 3 about the premature termination of their 25-year agreement signed in 2022.
Governor Guico emphasized that the termination reflects poorly on the province's commitment to honoring agreements. He asserted, "We honor any contract, even from the previous administration, as long as it is just."
Manila Water cited the "non-fulfillment of conditions precedent by PGP (Provincial Government of Pangasinan)" as the reason for terminating the concession agreement.
Governor Guico revealed that representatives from the provincial government and MWC were set to meet in the third week of the month to discuss the project before the termination announcement.
"We are open to renegotiation and welcome such a crucial project. It is beneficial to the province and its people, and we need it," he stated.
Despite this, the governor clarified that if renegotiation with MWC falls through, the provincial government is open to alternative proposals from other investors.
The provincial government and the consortium of MWC and its subsidiary, Manila Water Philippines Ventures, Inc., signed a concession agreement on Jan. 14, 2022, for a 25-year bulk water supply project that aimed to provide an additional 200 million liters of water per day to the province. (PNA)
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