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Prime Infra has signed a P5-billion loan agreement with Land Bank of the Philippines (LANDBANK) to partially fund the development of water, sustainable energy, and waste management infrastructure projects.
Present during the ceremonial signing held September 4, Wednesday, were Prime Infra President and CEO Guillaume Lucci, Chief Financial Officer Sandy Alipio and Treasury Head Emma Villa del Rey; and LANDBANK President and CEO Lynette Ortiz, Executive Vice President for National Development Lending Sector Ma. Celeste Burgos and Senior Vice President for Corporate Banking Group Lucila Tesorero.
The loan is intended to be used to partially finance Prime Infra’s working capital requirements and for bridging of syndicated term loans for projects in sustainable and renewable energy, water and bulk water supply, and waste management and sustainable fuels—Prime Infra’s three core markets.
“This partnership with LANDBANK is a significant step forward in our commitment to developing sustainable and resilient infrastructure. It will enable Prime Infra to further accelerate the progress of our projects in sustainable energy, water supply, and waste management,” said Prime Infra President and CEO Guillaume Lucci.
“We are grateful for the trust as Prime Infra continues to build better lives and resilient economies through critical infrastructure,” he added.
For her part, LANDBANK President and CEO Ortiz said: “We are excited to embark on this new partnership with a recognized leader in building critical and socially relevant infrastructure. Our common goal of enhancing lives and fostering resilient economies makes this loan facility a truly mutually beneficial endeavor.”
“Certainly, we’re very supportive of your projects. Sustainability is a key priority and [a] mandate for LANDBANK, and we’re looking forward to further growing this relationship,” she added.
A leader in developing critical infrastructure, Prime Infra’s projects are focused on helping ensure water security, providing dependable energy, and implementing proper waste management solutions.
This year alone, it achieved significant milestones such as strengthening its position in the water market through East Zone concessionaire Manila Water Company Inc., the start of the impounding process of its Upper Wawa Dam project that will provide water supply benefiting 3.5 million Filipinos, the inauguration of its first solar power plants that will supply up to 128 megawatts of renewable energy, and the inauguration of the Philippines’ first automated materials recovery facilities in Cebu and Pampanga.
In the medium term, Prime Infra will focus on completing the Upper Wawa Dam to start commercial operations, developing two pumped storage projects tagged by the Department of Energy as energy projects of national significance, drilling wells to continue indigenous gas production through Prime Energy, and scaling up the industrialization of its waste management business.
“We take pride that our diverse portfolio of projects not only positions us as a key infrastructure player but also helps contribute to the country’s economic growth and in fostering a more sustainable future,” said Lucci.
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