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July 21, 2024

HSBC facilitates P1.35B green loan for waste management acquisition in the Philippines

HSBC Philippines has facilitated a green loan worth P1.35 billion to assist Prime Integrated Waste Solutions Inc. (PWS), a subsidiary of Prime Infrastructure Capital Inc., in acquiring ARN Central Waste Management, a waste management company based in Cebu.

The loan supports HSBC’s climate strategy and will enhance PWS’s waste management capacity, leading to reduced landfill waste and the creation of new jobs. PWS aims to increase its daily waste processing capacity to 2,000 tons and improve its operations to meet world-class standards.

By focusing on resource recovery and refuse-derived fuel production, PWS is transforming the municipal and industrial solid waste management landscape.

The investment aligns with Prime Infra’s goal of optimizing waste value through sustainable fuel initiatives.