Korea Water Resources Corp. said Tuesday it has secured original proponent status for a water infrastructure project in New Clark City, the Philippines, advancing its bid for a development expected to exceed 1 trillion won ($740 million) in total value.
Known as K-water, the state-run utility said CEO Yoon Seog-dae received the certification Monday from Joshua Bingcang, president and CEO of the Bases Conversion and Development Authority, at the Philippine agency’s headquarters in Taguig.
The status gives the consortium of K-water and Philippine utility Maynilad Water Services a preferential position in negotiations. It does not guarantee the contract, as the proposal must undergo a Swiss Challenge allowing competing bids. The consortium generally retains the right to match the best rival offer.
New Clark City is a 94.5-square-kilometer smart city under development about 100 kilometers northwest of Manila. Designed to ease congestion in the capital and promote balanced regional growth, it is expected to accommodate about 860,000 residents.
K-water said limited water infrastructure and a water supply coverage rate in the 40 percent range make securing a stable supply a pressing challenge in the Philippines.
The project’s first phase is valued at about 350 billion won, while the broader development is expected to exceed 1 trillion won. Under the public-private partnership, the consortium would build and operate water-source, distribution and wastewater-treatment infrastructure.
K-water began a feasibility study in August 2024 and submitted its final proposal in January. The plan incorporates an underground water-storage dam, an AI-powered treatment plant and smart network-management technology designed to reduce water losses.
A BCDA delegation visited K-water’s AI treatment plant in Hwaseong, Gyeonggi Province, and reviewed its smart-city model last year, helping build support for the proposal, according to the Korean utility.
BCDA will now conduct the Swiss Challenge required under Philippine public-private partnership rules. K-water said it would complete an internal review before seeking a final agreement.
Following the ceremony, Yoon met Bingcang to discuss the project and broader development cooperation. He also held talks with Maynilad executives on its implementation.
K-water is seeking additional opportunities in the Philippines involving smart industrial complexes, desalination and renewable energy.
“Securing original proponent status demonstrates that Korea’s AI-based smart water-management technologies have gained recognition in a major Philippine city development,” Yoon said. “We will complete the remaining procedures and help provide New Clark City with a stable water supply.”
jyoungseon8@heraldcorp.com
