Maynilad Water Services, Inc. (Maynilad) was formed in 1997, after the consortium of Benpres Holdings Corporation and Suez Lyonnaise de Eaux won the exclusive right to provide water and wastewater services in the West Zone of Metropolitan Manila.
Before then, the Metropolitan Waterworks and Sewerage System (MWSS) was in charge of providing these services.
Towards the end of 1997, Maynilad struggled to meet its service and financial obligations because of the Asian financial crisis and El Nino phenomenon. These events led to a string of financial, legal and regulatory disputes between Maynilad and MWSS.
In 2005, Benpres and Suez ceded management and control of Maynilad to MWSS. A competitive bidding was done by the Philippine Government the following year to re-privatize Maynilad.
DMCI-MPIC Water Company, a joint venture between Metro Pacific Investments Corporation (MPIC) and DMCI Holdings, Inc. (DMCI), won the competitive bidding and acquired 83.96% of Maynilad's shares.
On January 24, 2007, the new owners took over Maynilad and launched an aggressive five-year investment program to rehabilitate the company and its operations.
In 2013, Marubeni Corporation of Japan acquired a 20% stake in DMCI-MPIC Water Company and became a strategic partner of the Metro Pacific-DMCI consortium.
Since its re-privatization, Maynilad has spent over P47 billion to improve and expand its water services. As a result, over 9 million people in Valenzuela City down to Cavite City are now enjoying safe, reliable water supply.
In the coming years, Maynilad will focus on accelerating its wastewater investments, while ensuring the water supply of its current and future customers.