Prime Infrastructure Capital Inc., the infrastructure arm of the Razon Group, said Friday it is acquiring a waste management company in Cebu City.
Prime Integrated Waste Solutions Inc. will acquire ARN Central Waste Management Inc. which collects around 1,000 tons of Cebu province’s municipal solid waste daily.
PIWSI will invest in modernizing ACI and bringing it at par with world-class materials recovery facilities in other developed countries like Singapore.
ACI, headquartered in Cebu City, is the first waste management business that Prime Infra is developing and upgrading.
PIWSI is also set to break ground on waste management facilities focusing on resource recovery in other strategic parts of the country within the next two years.
PIWSI aims to immediately address methane emissions, prevent ocean, water and air pollution through efficient waste management and enhance the quality of life in surrounding communities by supporting critical infrastructure in Cebu.
“We are looking forward to working closely with the local government of Cebu City to successfully achieve our strategic objectives and make the city a showcase for waste-to-value initiatives in the country,” said Prime Infra market sector lead for waste Cara Peralta.
PIWSI and WasteFuel Philippines, another Prime Infra subsidiary, make up the company’s waste business.
WasteFuel aims to convert organic waste and agricultural feedstock into fuels such as green methanol and sustainable aviation fuel. WasteFuel is targeting to develop its first biorefinery in Cebu City.
Prime Infra is businessman Enrique Razon Jr.’s infrastructure arm that focuses on building assets to support the most urgent sustainability priorities—energy, access to clean water, waste management and viable critical infrastructure.