ZCWD, DBP ink loan contract PDF Print E-mail
Friday, 27 May 2011 16:42

The need to improve the water system in Zamboanga paved way for the ceremonial signing of a P233.5 million Loan Credit Facility between  the Zamboanga City Water District (ZCWD) and the Development Bank of the Philippines (DBP) on May 25, 2011 at the Patio de Palmeras in Sta. Maria.

Of the total amount, P133.5 million will be used to refinance the Local Water Utilities (LWUA) Loan while the P100 million will be used to finance various  improvement /expansion projects of the district such as the replacement of old pipelines/mainlines, rehabilitation of production wells and pumping stations, construction of booster stations, construction of a sewerage treatment plant, acquisition of lots and other critical assets among others. Improvements of these projects have been ongoing since the start of the year. The ongoing projects in Luyahan and Talon-talon are expected to be completed very soon.

Board Chair Milagros Fernandez and General Manager Leonardo Rey Vasquez represented ZCWD in the contract signing while Head for Regional Marketing Center- Western Mindanao SAVP Catalina R. Avila and Branch Head SM Eduardo A. Ong represented the DBP.

The signing of the contract was witnessed by ZCWD’s Board of Directors Nelida Atilano, Efren Arañez and Edwin Caliolio, AGM for Operations Alejo Rojas, Jr. OIC-FAG Ambali Taola,  LMSD Head Atty. Lovell Abad and Division Managers Atty. Mark Paredes, Engr. Arnulfo Alfonso and Engr. Teotimo Reyes, Jr.. Others present were DBP’s regional lawyer. Atty. Jose Rizalino Ortega, Regional Marketing Assistant, AM Girlie Dacal and Account Officer, AM Aaron Jay Luy.