BDO Unibank Inc., the country’s largest lender led by the Sy Group, said Tuesday it provided financial support to critical water infrastructure projects of San Miguel Corp.’s Luzon Clean Water Development Corp. in Bulacan and the Razon Group’s Wawa Bulk Water Supply Project in Metro Manila.
Luzon Clean Water Development Corp., a concessionaire of Metropolitan Waterworks and Sewerage System, was tasked to provide water services to the province of Bulacan through the Bulacan Bulk Water Supply Project, a public-private partnership project of the national government.
LCWDC helps address the issues encountered by the water districts of Bulacan such as inadequate source of water supply, low water pressure due to limited distribution systems and saline water intrusion into the groundwater. It helps improve the quality of life of Bulacan residents by supplying steady and clean water and continuously expanding its service area coverage.
BBWSP is a water treatment plant and pipeline conveyance facility with three stages aimed to address the growing demand for environmentally sustainable and equitably priced potable water in Bulacan.
BDO funded the bulk of BBWSP and helped extend the long-term loan facility that was used to finance the construction of the first and second stage of the project, which covered the treatment and delivery of bulk water to 13 local government units in Bulacan.
BDO also provided the required financing to the Wawa Bulk Water Supply Project of Wawa JVCo, a subsidiary of Prime Infra, the Razon Group’s infrastructure arm.
Wawa Bulk Water Supply Project is one of the important measures of the government to help solve the water crisis in Metro Manila and the province of Rizal. It is also designed to address flooding problems in downstream communities caused by typhoons and protect the eastern part of Metro Manila and lower areas in Rizal, Marikina and Pasig.
The creation of Wawa Bulk Water Supply Project is attuned to the purpose for Prime Infra which is to uplift the lives of Filipinos through vital infrastructure while creating positive social and economic impact to the communities where it operates.
With the scale of Wawa project, Prime Infra through Wawa JVCo ensures that sustainability and innovative practices are integrated such as environmental conservation and preservation of the reservoir where it draws water.
“The Razon Group has long-time dealings with BDO. We highly value our relationship with BDO and continue to accord the bank a significant portion of our business,” said Guillaume Lucci, president and chief executive of Prime Infrastructure Capital Inc.