Swiss bank approves $40.5 million for WTA projects

The Swiss Bank Consortium-Zurich on Friday approved an initial $40.5 million funding and gave the go signal to Clark Freeport and Special Economic Zone-based Lucas Clark Engineering Services to proceed with its Waste-to-Ash (WTA) projects.

Atty. Joseph A. Uy, Philippine representative of Swiss Bank Consortium, said that the latter has approved in principle five WTA projects in various parts of the country by Lucas Clark Engineering Services led by its president and chief executive officer, Richard E. Lucas.

“Based on what we saw in site inspections, I will now recommend the approval of the WTA projects. Lucas Engineering has complied with all the requirements, including sites and machinery ready for the implementation of their clean energy projects,” Atty. Uy told this writer who was invited to witness the ceremonial approval of the projects

The first five identified WTA projects of Lucas are to be located in Kapangan in Benguet; Cavite; Tarlac; Cagayan de Oro; and Gabaldon, Nueva Ecija.

Start the ball rolling

Lucas thanked the Swiss bank executive for his trust, saying the bank’s approval will start the ball rolling for his company’s implementation of the projects designed to contribute to much-needed electricity in the country.

According to Atty. Uy, the “Waste-to-Ash project is an example of innovation and sustainability. By converting waste into ash, we reduce landfill waste, conserve natural resources, and decrease greenhouse gas emissions. This project not only benefits the environment but also creates new economic opportunities. Together, we can build a more sustainable future.”

Added Uy, “Let’s continue to support initiatives like Waste to Ash, promoting a cleaner, greener world for generations to come.”