Building critical infrastructure: Ricky Razon commits P55B in water, power projects

Ultra bilyonaryo Enrique K. Razon’s Prime Infrastructure Capital Inc. is pouring in at least P55 billion in energy, safe water, waste management and other projects that will support the country’s urgent needs.

Prime Infra president and CEO Guillaume Lucci said during a briefing the company is well-positioned to build viable critical infrastructure projects.

“We need about, give or take, P50 billion to P55 billion in equity to support our projects,” he said.

Lucci said Prime Infra’s energy portfolio has always been aligned with the national government’s objective of attaining energy independence and security, while reducing the country’s reliance on fossil fuels.

Prime Infra recently completed the acquisition of a 45 percent stake in the Malampaya deep water gas-to-power project.

Its goal is to sustain and expand gas production in light of growing electricity demand.

The Razon-led company is also expanding its energy portfolio by investing heavily in renewables—solar, hydropower, waste-to-fuel and a gas-fired power plant in Iraq.

Prime Infra is looking to invest at least P200 billion in Terra Solar Philippines to build what is seen to be the biggest solar power plant in the world.

It is also committed to deliver on time vital water infrastructure. Just recently, its subsidiary, WawaJVCo Inc., started the commercial operations of Bulk Water Supply Project Phase 1 in Rizal province that would deliver an initial 80 million liters per day of raw water to Manila Water Co. and Metropolitan Waterworks and Sewerage System.

Construction of the project’s Phase 2 is targeted for completion by 2025.

These projects will support the company’s goal to build better lives and resilient economies through critical infrastructure.

“As you can tell, we never stopped, we are always ahead and always moving and looking at opportunities. We will continue doing that, remaining true to our purpose in the market segments that we serve,” said Lucci.

“Our edge is we are a very disciplined management. We are absolutely relentless and always moving and two steps ahead,” he said.