MacroAsia Signs P1.41B Loan Agreement with Security Bank for the Lapu-Lapu City Seawater Desalination Plant

MacroAsia Corporation announced the ceremonial signing of the P1.41 billion financing loan agreement for the Seawater Desalination Plant Project in Lapu-Lapu City, Cebu, held on April 10, 2025. ​

The agreement was formally executed by representatives of Cebu Summa Water Lapu-Lapu, Inc. (CSWLL), a wholly owned subsidiary of Summa Water Resources, Inc. (SWRI)—with SWRI being 60% owned by MacroAsia Corporation (MAC) through its subsidiary, Allied Water Services, Inc.—and Security Bank Corporation as the financing institution.

This agreement marks a significant milestone in the development of the project’s initial phase, which now includes the construction of a 20 million liters per day (MLD) desalination plant in Punta Engaño—an increase from the original plan of 15 MLD—and a 500 cubic meters per day (CMD) desalination facility on Olango Island.

CSWLL is investing heavily in this transformative project, which aims to address the growing water needs of Lapu-Lapu City and enhance its water security. Together with SWRI and MAC, the company is committed to delivering a sustainable, climate-resilient water solution that supports both the immediate and long-term needs of the community. This project reinforces their shared vision of securing reliable and high-quality water resources to help power the future of the Philippines.

The City Government of Lapu-Lapu has been an essential partner in this initiative, offering steadfast support and collaboration throughout the project’s planning, design, and implementation phases. Through a Joint Venture Agreement signed between the City and CSWLL—and a Notice to Proceed issued on May 13, 2024—the City has demonstrated its proactive role in addressing water supply challenges and ensuring a sustainable water future for its constituents. This partnership underscores the City’s commitment to the well-being of both present and future generations.

Today’s ceremonial signing follows the groundbreaking ceremony held on September 18, 2024, which officially launched the project. With the Joint Venture Agreement signed on June 21, 2019, the desalination facilities are on track to deliver a dependable, high-quality water supply for Lapu-Lapu City. This initiative also sets the stage for future desalination projects across the country.