On 27 August 2025, Maynilad Water Services' board reallocated PHP 7,881.33 million of blue bond proceeds after delays at the Ligas Modular Treatment Plant and other projects. The money went to 26 additional projects and to the Las Piñas conveyance project.
Where the money went
The new list reads like a shopping list for pipe and wastewater suppliers. It includes PHP 729.33 million for remaining works on the Bigte–Novaliches Aqueduct No. 7, PHP 666.04 million and PHP 381.63 million for two Parañaque mains, and PHP 507.45 million for a 100 ML third cell and pump station at Bagbag. Wastewater upgrades include PHP 110.86 million for Talayan and PHP 262.63 million of jacking pipes for the Central Manila sewerage conveyance.
Delays still drive the pipeline
The Ligas plant alone was projected to leave PHP 1,073.40 million unspent. The planned disbursement schedule for the new projects ran from the third quarter of 2025 to the second quarter of 2026, and by June 2026 80.1% of the blue bond proceeds had been disbursed. Other dates have also passed: the Parada reservoir passed its August 2026 estimated completion without confirmed completion.
How suppliers get in
Maynilad buys through its own system. Contractors need annual accreditation, including at least PHP 2.5 million of working capital a year and a financial evaluation by CRIF D&B Philippines. Suppliers must prequalify each material or brand before they can bid. Large projects go to open competitive bidding; pipe-laying often goes to direct competitive bidding among accredited firms.
Which projects are open, emerging or already held by contractors such as SUEZ, how much the 2026 budget of PHP 34.6 billion leaves to spend, and where suppliers should focus first are set out in the full brief. The full report, Maynilad Water Services: Utility Account Brief, is available for USD 499. For a free overview, read the Maynilad Water Services Utility Snapshot.