RP eyes $150-M Chinese loan

The Philippines and China will sign next month a $150-million loan from the Chinese Eximbank which will be used to finance the $169-million Bulacan Bulk Water project.

This was disclosed recently by People’s Republic of China Ministry of Finance liaison officer Ji Chen who said that the loan would be signed during the ASEAN Summit to be held in Cebu next month.

The water system would have a production capacity of approximately 90,190 cubic meters per day using ground water for Phase I-A and about 230,000 cubic meters per day to be sourced from the Angat-Umiray Transbasin Project for Phase I-B.

The proponent of the project would be the Bulacan Water Corp., while the implementing agencies would include the local water districts of Balagtas, Bocaue, Bulacan, Guiguinto, Malolos, Marilao, Meycauayan, Obando as represented by the Local Water Utilities Administration (LWUA).

The project would supply 120,000 households and 20,000 commercial/industrial users.

The project would be bidded out to interested concessionaires under a Build-Operate-Transfer (BOT) scheme.

Previously, Manila Water Co. (MWC) had expressed interested in participating in the P1.5-billion Bulacan Bulk Water project, according to Bulacan provincial administrator Gladys C. Sta. Rita. "We are talking with different proponents but Manila Water has been very persistent," Sta. Rita said.

The Ayala-led MWC concessionaire for Metro Manila’s east zone has been actively eyeing projects both here and abroad.

By securing financing from the Chinese Eximbank, Bulacan has been able to forego the tedious process of going through the NEDA-ICC (National Economic and Development Authority-Investment Coordinating Committee).