Firm Obtains P800M Loan for Cebu Water Project

The Cebu Manila Water Development, Inc. (CMWDI) has been granted P800 million loan from the Development Bank of the Philippines (DBP) for its water project in Carmen town, Cebu.

Gerardo Ablaza Jr., president of CMWDI, said the project, once implemented, will cut by 35 percent of Cebu’s water shortage.

“The 100 million per liter gap supply in Cebu will be slowly filled up. And probably a few more after that,” said Ablaza in his speech during the turn-over of the P800-million term loan facility at the Marriot Hotel yesterday.

Ablaza said CMWDI is getting the bulk water in Carmen to be distributed in the Metro Cebu starting this June.

“We are also keen on being part of the first surface water source of the province which will lessen the dependence on deep well sources to augment the supply gap,” he said.

Ablaza added “It needs a very strong of conviction, I call it courage, for the Cebu province to make this project happen given all the sensitivities.”