Summa Water secures P1.41B loan for Lapu-Lapu desalination project

Cebu Summa Water Lapu-Lapu Inc. (CSWLL), a subsidiary of Summa Water Resources Inc. (SWRI) which is 60 percent owned by MacroAsia Corporation (MAC), has secured P1.41 billion in project financing from Security Bank Corp. for its seawater desalination and water supply initiative in Lapu-Lapu City, Cebu.

The financing deal will fund the construction of two desalination plants: a 20 million liter-per-day (MLD) facility in Punta Engaño, upgraded from the initially planned 15 MLD, and a 500 cubic meters per day (CMD) facility on Olango Island.

CSWLL stated that this agreement marks a significant milestone in the development of the project's initial phase.

The project, which had its groundbreaking ceremony on September 18, 2024, is designed to deliver a dependable, high-quality water supply for Lapu-Lapu City.

CSWLL described the project as a transformative investment aimed at addressing the city's growing water demand and enhancing water security.