BDO supports crucial water infrastructure projects

MANILA, Philippines — Sy-led BDO Unibank Inc. continues to support and finance critical water infrastructure projects to ensure stable supply in the country as part of its commitment to sustainability.

The country’s largest lender provided financial support to Luzon Clean Water Development Corp. (LCWDC) of diversified conglomerate San Miguel Corp. (SMC) and Wawa JVCo Inc. – a subsidiary of Prime Infrastructure Capital Inc. of billionaire Enrique Razon.

LCWDC director Raoul Romulo said BDO has been  supportive in the financing requirements of the Bulacan Bulk Water Supply Project (BBWSP).

“Our business relationship with BDO has blossomed since we started banking with them in 2016 and today, it lends support to other projects pursued by the San Miguel group. Living up to its promise to clients of finding ways, BDO is truly our reliable partner as we continue to build a better world for the Filipinos,” Romulo said.

LCWDC, a concessionaire of Metropolitan Waterworks and Sewerage System (MWSS), is undertaking the BBWSP that involved the construction of a water treatment plant and pipeline conveyance facility, with three stages to address the growing demand for environmentally sustainable and equitably priced potable water in Bulacan.

It is aligned with SMC’s mission and vision to drive positive change, guided by a strong sense of social and environmental responsibility to provide goods and vital services that are accessible to every Filipino.

BDO funded the bulk of BBWSP and helped extend the long-term loan facility that was used to finance the construction of stages 1 and 2 of the project, which covered the treatment and delivery of bulk water to 13 local government units in Bulacan.

In line with BDO Unibank’s thrust in shaping a more sustainable future, the   bank  also provided the required financing to the Wawa Bulk Water Supply Project of Wawa JVCo.

The project is one of the important measures of the Philippine 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.

Guillaume Lucci, president and CEO at Prime Infra, said that 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,” Lucci said.