A subsidiary of ultra bilyonaryo Enrique K. Razon Jr.’s Prime Infrastructure Capital is acquiring a waste management company in Cebu City, which it plans to turn into a world-class facility.
Prime Infra said subsidiary Prime Integrated Waste Solutions Inc. (PIWSI) would take overn ARN Central Waste Management Inc. (ACI), a company that receives around 1,000 tons of Cebu province’s municipal solid waste daily.
The Razon group will be investing in the modernization of ACI, making its materials recovery facility at par with other developed countries like Singapore.
ACI is the first waste management business that Prime Infra is developing and upgrading.
Within the next two years, Prime Infra, through PIWSI, is also set to break ground on waste management facilities focusing on resource recovery in other strategic parts of the country.
PIWSI aims to immediately address methane emissions and prevent ocean, water, and air pollution through efficient waste management.
It also plans to enhance the quality of life in surrounding communities by supporting critical infrastructure in Cebu.
“We are looking forward to working closely with the local government of Cebu City to successfully achieve our strategic objectives and make the city a showcase for waste-to-value initiatives in the country,” Prime Infra’s market sector lead for waste Cara Peralta said.
PIWSI and WasteFuel Philippines, another subsidiary, make up Prime Infra’s waste business.
WasteFuel plans 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 in Cebu City.