Prime Integrated Waste Solutions Inc. (PWS), a subsidiary of ultra bilyonaryo Enrique K. Razon’s Prime Infra, announced the completion of its acquisition of Cebu-based ARN Central Waste Management Inc. (ACI).
The acquisition marks Prime Infra’s entry into the waste business.
Prime Infra president and CEO Guillaume Lucci said they are upgrading ACI to bring it at par with world-class materials recovery facilities (MRFs) in other developed countries like Singapore.
ACI receives around 1,000 tons of Cebu province’s municipal solid waste daily.
“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. 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,” said Lucci.
PWS also targets to develop two more MRFs 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,” added Lucci.
PWS and WasteFuel Philippines, another Prime Infra subsidiary, make up the company’s waste business. They aim to convert organic waste and agricultural feedstock into green methanol and sustainable aviation fuel and put up their first biorefinery in Cebu City.