Tuesday, February 13, 2007 Lhuillier invests in water
BUSINESSMAN Michel Lhuillier has shown the Cebuanos his affinity toward the group, as he ventured into the water business to “save Cebu from the alarming water problem.”
Lhuillier, whose core business is pawnshop and money transfer, has partnered with water technology solutions provider Mactan Rock Industries Inc. (Mactan Rock) for the establishment of the Pilipinas Bulk Water Resources (PBWR), which will venture into a P3-billion bulk water supply project in Metro Cebu.
“So many islands are thirsty. With our financial resources and Mactan Rock’s expertise (in water technology), I don’t see how we can go wrong,” he said in his speech during the launch of PBWR, which was held during the 25th anniversary celebration of Mactan Rock at the Waterfront Cebu City Hotel and Casino last week.
Rates
PBWR also launched its seven projects, which aims to supply some 260,000 cubic meters of water to Cebu daily.
Lhuillier said the entry of large water companies, which are offering “high” water rates to Cebuanos, has triggered his decision to venture into the water business.
“They can not do this to Cebuanos,” he said.
Part of PBWR’s P3-billion investments will be financed by the Lhuillier Group of companies. The rest will be sourced out from different financial institutions, Lhuillier said.
Mactan Rock president Antonio Tompar said PBWR will establish a medium-size dam near Mananga and Cotcot rivers. This will generate at least 120,000 cubic meters a day. (JBN)
