MANILA, Philippines — Prime Infrastructure Capital Inc. of tycoon Enrique Razon is looking to scale up its waste management business over the next two years with the planned development of two materials recovery facilities in Luzon.
Prime Infra, through subsidiary Prime Integrated Waste Solutions Inc. (PWS), recently formalized its foray into the waste management business with the completion of its acquisition of Cebu-based ARN Central Waste Management Inc. (ACI).
“We are excited about this acquisition which marks Prime Infra’s entry into the waste business. Prime Infra established PWS as a response to the market demand for modern waste recovery facilities to accommodate the rapid year on year increase in solid waste output,” Prime Infra president and CEO Guillaume Lucci said.
“Through PWS, we plan to deliver world-class waste management services that will create a positive impact on both the environment and the surrounding communities,” he said.
ACI is the first waste management business that Prime Infra is developing.
The company intends to upgrade the business to bring it at par with world-class materials recovery facilities in other developed countries like Singapore.
ACI currently receives around 1,000 tons of Cebu province’s municipal solid waste daily.
Prime Infra said PWS also targets to develop two more materials recovery facilities in Luzon within the next two years.
“The transaction is also part of Prime Infra’s overall strategy to establish an integrated waste management and sustainable fuels solution that will help tackle the solid waste problem in the Philippines,” Lucci said.
PWS and WasteFuel Philippines, another subsidiary, make up Prime Infra’s waste business.
WasteFuel, for its part, aims to convert organic waste and agricultural feedstock into fuels such as green methanol and sustainable aviation fuel.
It is targeting to develop its first biorefinery also in Cebu City.