Razon’s move in Manila Water won’t affect revised water deal: DOJ

February 5, 2020

Justice Secretary Menardo Guevarra said tycoon Enrique Razon's purchase of 25 percent of Manila Water shares will not affect government’s revision of the onerous and grossly disadvantageous provisions in the concession agreements with the two water firms.

“The CA (concession agreement) will be revised for the benefit of the consuming public, regardless of the ownership of the water company,” Guevarra said in a text message Wednesday.

Guevarra is part of the team that was tasked to revise the government contracts with the two private water concessionaires—Manila Water and Maynilad Water.

The DOJ is finalizing the draft contracts that would be discussed with the two firms to weed out from the 1997 concession agreements the onerous provisions that were disadvantageous to the consuming public.

Nonetheless, Guevarra assured the two water concessionaires that the draft contracts would be fair and equitable, and to the benefit of their clientele.

“Inputs on the financial and commercial provisions are now being incorporated in the draft. Once consolidated, we may start discussions with the concessionaires in March,” Guevarra said. DMS