LandBank approves P94.5M loan to finance Sorsogon’s oxygen plant
The Land Bank of the Philippines has greenlighted the P94.5-million term loan to finance the construction of a government-owned medical oxygen plant in Sorsogon.
The new plant, once constructed, is expected to bring the cost of oxygen refilling from the current price of P490 to P157.
The new facility will be built at the Sorsogon Provincial Hospital, in partnership with the provincial government.
LandBank President and Chief Executive Officer Cecilia Borromeo said that they are committed to serve the frontliners amid the challenges brought by the pandemic.
“Alongside our LGU partners, we stand ready to service growth and recovery requirements, which include boosting local healthcare services and providing support to medical frontliners and their constituents,” Borromeo said in a statement.
As of September 15, there are 461 active COVID-19 cases in Sorsogon. Total caseload in the province is 4,311. Meanwhile, the death toll stood at 246.