CEBU, Philippines — The Development Bank of the Philippines (DBP) released the P355 million loan to Cebu-based bulk water supplier Mactan Rock Industries Inc. (MRII).The loan, under the DBP omnibus credit facility will be used by the company to fund its nationwide expansion plans, said MRII Chairman Antonio Tompar.
According to Tompar, the company will immediately start its expansion projects of establishing more water treatment plants such as the Crimson Resort in Mactan, Aparri Cagayan Valley, Manila Pavillon, Philippine Port Authority-North Harbor and Mactan Export Processing Zone (MEZ-I).
Early this year, DBP also financed MRII expansion projects for additional water facilities via desalination process.
The company is currently operating water treatment plants at Mactan International Airport, and Mactan Economic Zone 1 and 2.
Tompar said that the company has to respond to the increasing demand for water supply, especially with the industries.
MRII has been supplying bulk water not only to industrial companies, but also in resorts, hotels, subdivisions, shopping malls, and other big water consumers.
Desalination is the process of removing salinity (dissolved salts), from a salt water source, or brackish water.In 2016, MRII, which is one of the leading desalinated water providers in the Philippines, reported at least 30 percent increase of desalinated water supply demand.
Tompar sees that the demand for desalinated water around the country will double or triple in demand as more economic zones will be built, and more islands will be developed for tourism.
“Desalination is the future of water supply around the world, and we are already at par at this onset,” he added.
He reiterated that it is the trend of companies right now to get a contract with secondary water supplier.
The impact may not be strongly felt in bigger islands, “but we have become a reliable water supplier in small islands like in Panglao, El Nido and Samal,” he said.
Already, the company has rolled out aggressive expansion programs in other areas in the Visayas and Mindanao as desalinated water became a popular alternative source amidst a dry spell that has affected the agri-business sector in the country.
Tompar added that DBP’s support in providing funding in these projects, would not only help MRII’s capacity of supply, but also help aid the looming scarcity problem in big communities. (FREEMAN)
Read original: The Freeman