Bilyonaryo - Business

Razon’s Prime Infra secures P1.35 billion green loan for Cebu waste management project

June 20, 2023

Bilyonaryo.com

A subsidiary of ultra bilyonaryo Enrique K. Razon’s Prime Infrastructure Capital secured a $24.5 million or P1.35 billion green loan from British bank HSBC.

The loan is intended for the acquisition of a local waste management operation in Cebu.

HSBC said the deal reflects the bank’s commitment to sustainability.

Prime Integrated Waste Solutions Inc. (PWS) plans to purchase ARN Central Waste Management, a specialized 17-hectare facility responsible for waste management and materials recovery in Cebu.

With this loan, HSBC aims to increase the facility’s daily solid waste processing capacity from the current 1,000 tons to 2,000 tons.

HSBC reiterated its determination to achieve net-zero emissions in its operations and supply chain by 2030, as well as in its financing portfolio by 2050.

The bank remains dedicated to collaborating with clients to reduce their emissions and promote the adoption of low-carbon solutions, alongside its own efforts.

Prime Infra president and CEO Guillaume Lucci emphasized that Prime Infra’s investment in waste management aligns with its broader strategy of optimizing the value derived from waste through its sustainable fuels business.

HSBC noted that PWS, through its transformation strategy, focuses on resource recovery to minimize landfill waste and operationalizes the recyclables business by producing refuse-derived fuel.

HSBC further highlighted that PWS prioritizes the well-being of its workforce and contributes to surrounding indigent communities by employing material recovery attendants and upholding high safety standards.

Related News Tags: Enrique K. Razon, Guillaume Lucci, HSBC, Prime Infrastructure Capital, Prime Integrated Waste Solutions Inc. (PWS)

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