Razon’s Prime Infra Secures P5-B Loan from Landbank

Tycoon Enrique Razon’s Prime Infrastructure Capital Inc. (Prime Infra) has secured a P5-billion loan from the state-run Land Bank of the Philippines to fund its water, sustainable energy, and waste management infrastructure projects.

In a statement released on Thursday, Prime Infra announced that it signed a P5-billion loan agreement with Landbank during a ceremonial event on September 4. The agreement was signed by Prime Infra President and CEO Guillaume Lucci and Landbank President and CEO Lynette Ortiz.

The loan is intended to partially finance Prime Infra’s working capital requirements for its projects across three core sectors: sustainable and renewable energy, water and bulk water supply, waste management, and sustainable fuels.

“This partnership with Landbank is a significant step forward in our commitment to developing sustainable and resilient infrastructure. It will enable Prime Infra to further accelerate the progress of our projects in sustainable energy, water supply, and waste management,” said Lucci.

Landbank President Lynette Ortiz added, “We are excited to embark on this new partnership with a recognized leader in building critical and socially relevant infrastructure. Our common goal of enhancing lives and fostering resilient economies makes this loan facility a truly mutually beneficial endeavor.”

Prime Infra has made considerable strides this year in strengthening its position in the water market through its partnership with Manila Water Company Inc., initiating the impounding process of the Upper Wawa Dam project to provide water to 3.5 million Filipinos, inaugurating its first solar power plants with a capacity of up to 128 megawatts, and opening the Philippines’ first automated materials recovery facilities in Cebu and Pampanga.

Looking ahead, Prime Infra plans to focus on completing the Upper Wawa Dam to begin commercial operations, developing two pumped storage projects designated by the Department of Energy as nationally significant, continuing indigenous gas production through Prime Energy, and expanding its waste management business.