BDO Unibank is providing financial support to critical water infrastructure projects of San Miguel Corporation’s Luzon Clean Water Development Corporation (LCWDC) and Razon Group’s Wawa Bulk Water Supply Project.
In a statement, the bank said its “unwavering support to these initiatives complement the government’s push in accelerating economic growth” and affirms its commitment to sustainability.
LCWDC, an MWSS concessionaire, has been tasked to provide water services to the whole province of Bulacan through the Bulacan Bulk Water Supply Project (BBWSP), a Public Private Partnership (PPP) project of the national government.
It 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.
The project also 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.
It is aligned with San Miguel Corporation’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 Unibank 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.
“BDO has been very supportive to us in LCWDC especially in the financing requirements of the BBWSP,” said LCWDC Director Raoul C. Romulo.
He noted that, “Our business relationship with BDO has blossomed since we started banking with them 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.”
In line with BDO Unibank’s thrust in shaping a more sustainable future, the Bank also provided the required financing to another noteworthy undertaking, the Wawa Bulk Water Supply Project of Wawa JVCo which is a subsidiary of Prime Infra, Razon Group’s infrastructure arm.
Wawa Bulk Water Supply 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.
“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 Prime Infrastructure Capital Inc. President and CEO Guillaume Lucci.
BDO Unibank said it is committed to promoting a more sustainable environment and water use efficiency, and will continue to fund infrastructure projects to provide livelihood, create opportunities and contribute to the nation’s progress.