Mactan Rock gets P355-million loan
By KATLENE O. CACHO Sun.Star Cebu | October 24, 2017
CEBU-BASED bulk water supplier Mactan Rock industries Inc. (MRII) has secured a P355-million loan from the Development Bank of the Philippines (DBP) to finance its expansion programs nationwide.
MRII chairman Antonio Tompar said the loan, under the DBP omnibus credit facility, will be used to finance the water treatment plants in Aparri, Cagayan Valley (3,000 cubic meters per day), Crimson Lapu-Lapu City (350 CMD), Manila Pavilion (600 CMD), Philippine Ports Authority/North Harbor (1,000 CMD) and Mactan Export Processing Zone 1 in Cebu (10,000 CMD).
Tompar said DBP’s support in providing funds for these projects will not only help MRII’s supply capacity, but also stave off a looming scarcity problem in big communities.
Early this year, the company secured a loan from the DBP amounting to P500 million to finance its three existing water treatment plants in Mactan Island and other projects.
Hotels, resorts, malls, subdivisions and other commercial establishments are among Mactan Rock’s clients.
Tompar said big commercial establishments have already turned to desalinated water as an alternative source.
Desalination is the process of removing dissolved salts from water, producing fresh water from seawater or brackish water.
“The future of water supply is desalination,” said Tompar, adding that consumers and businesses realize it is better to pay a bit higher than suffer water shortage which could hurt operations.
Last year, Tompar reported at least 30 percent increase of desalinated water supply demand.
He sees the demand for desalinated water around the country increasing, as more economic zones will be built, and more islands will be developed for tourism.
Read original: Sun.Star Cebu