RUMFORD – Selectmen approved a revolving loan Thursday night that will help launch a new bottled water company.

Matt Gallant of Mexico plans to begin distributing his bottled water brand, Bull Rock, by Dec. 1.

Selectmen approved an $80,000 Urban Development Administration Grant of $80,000, along with another $17,500 for purchase of the land in the town’s industrial park. Both loans are for six years at 6 percent interest. With the sale of the lot, the industrial park off Route 108 east is full.

Gallant said he plans to construct a 50-by-60-foot steel building at the site that will house the bottling operation and employ five people. There will also be a showroom displaying other labels that will be bottled at the site. Within two years, he hopes to increase the number of employees to 25.

He said water will be drawn from gravel aquifers in Dixfield, West Peru and Turner.

He said he has been working on the project for more than a year. He owns MPG Custom Metal Fabrications in Mexico, and has built water facilities in other areas. He said he also has a 20-year background in the food and beverage industry.

The plant will produce three, four- and five-gallon containers as well as individual-sized bottles. Custom labeling will also be available for businesses and organizations.

He is working on the distribution of the water products throughout New England.

The Planning Board is holding a special meeting at 7 p.m. Tuesday, Oct. 12, to review the site plan proposal.