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Business

Prime Infrastructure ventures into waste management

Richmond Mercurio - The Philippine Star

MANILA, Philippines — Tycoon Enrique Razon has jumpstarted his plan to enter the waste management business after a subsidiary of Prime Infrastructure Capital Inc. acquired Cebu-based ARN Central Waste Management Inc. (ACI).

Prime Integrated Waste Solutions Inc. (PIWSI) is set to fully acquire ACI, which currently receives around 1,000 tons of Cebu province’s municipal solid waste daily.

The company is investing in the modernization of the waste management company to bring it at par with world-class materials recovery facilities in other developed countries like Singapore.

Prime Infra said ACI in Cebu City is the first waste management business that the company is developing and upgrading.

“PIWSI aims to immediately address methane emissions, prevent ocean, water, and air pollution through efficient waste management, and enhance the quality of life in surrounding communities by supporting critical infrastructure in Cebu,” Prime Infra said.

PIWSI is also set to break ground on waste management facilities focusing on resource recovery in other strategic parts of the country within the next two years, it said.

PIWSI and WasteFuel Philippines, another Prime Infra subsidiary, make up the company’s waste business.

WasteFuel, for its part, aims 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 also in Cebu City.

“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.

Prime Infra is Razon’s infrastructure arm that focuses on building assets that support the most urgent sustainability priorities such as energy, access to clean water, waste management, and viable critical infrastructure.

The company earlier said it is investing as much as P55 billion on critical infrastructure projects that supports the urgent needs of the country.

It is also continuously looking at opportunities to expand not only locally, but also overseas.

ACI

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