President Rodrigo Duterte has reiterated his "anger" over the two biggest water concessionaires in the country for allegedly taking advantage of consumers.

In a speech on Thursday in Malacanang, Duterte again said that Manila Water Company, Inc. and Maynilad Water Services, Inc. have been trying to reach out for a settlement.

"Let us see how it develops. I'm really angry," he said, noting that the two water firms have been collecting money from people for long years but "you have not even come up with a can of clean water or a canal there."

"So where is the money? Where is the money of the Filipino people? Where is the money of the average Filipino...who pays his water bill and has to pay because it (water service) will be cut off, it would give him a lot of headache for the day," he said.

Duterte dared Manila Water and Maynilad to "give back the money" to the people and "maybe we can talk about solving your problem. It will not be the problem of this government."

The Department of Justice earlier conducted a review of the water concession agreements between the state-run Metropolitan Waterworks and Sewerage System and the two water firms.

It found out that the respective contracts were "onerous" and there were provisions that were "disadvantageous" to the public.

Duterte has ordered the DOJ and other concerned government agencies to prepare new contracts for the two water firms.

Duterte once again said he was not afraid that there would no be water.

"I will just takeover and nationalize water in the Philippines," he said, noting that he could order the military to take over the operation of the water companies. Celerina Monte/DMS