ATN supplies rock aggregates for rail project

Image credits: ATN Holdings Inc.

ATN Holdings Inc. said it has delivered rock aggregates to be used as construction materials for the North-South Commuter Railway project, a 148-kilometer railway flagship project that will connect New Clark City in Pampanga to Calamba, Laguna.

The company, a diversified group with interests in real estate, renewable energy, technology and operator of one of the country’s largest rock-extraction sites, said the delivery signals its formal participation in the government’s massive infrastructure projects.

Last year, the first phase of the project was awarded to the joint venture of contractor D.M. Consunji Inc. and Japan’s Taisei Corp. The Tutuban-Malolos segment will stretch for 38-kilometers including six stations and a depot to be located in Valenzuela City. The said project is envisioned to carry 350,000 passengers daily.

“ATN is fully committed to the government’s BBB [Build, Build, Build] program and shares in its vision to prioritize infrastructure as the centerpiece of our economic recovery and massive job creation stimulus amidst the Covid-19 pandemic,” Arsenio T. Ng, chairman and CEO of ATN Holdings, said.

ATN’s rock-extraction facilities are built on a 254-hectare privately owned property in Montalban, Rizal, featuring a state-of-the art rock crushing plant with a capacity of 500 tons per hour.

The company said it has rock reserves of around 65 million tons, equivalent to an estimated accreted value of P65 billion. To date, it has an existing inventory of at least one million tons of high-grade rock aggregates for future deployment.

“We are thrilled to be in a unique position to seize multiyear continuing opportunities in the bullish infrastructure sector given the massive size of our strategic stockpile and high-quality rock deposits,” Ng said.

At the moment, ATN is actively engaged in discussions for rock supply arrangements with various public and private proponents committed to large-scale infrastructure development as key to nation building, the company said.

The company was incorporated on February 17, 1961 as Jabpract Mining and Industrial Corp. and was primarily engaged in mining and oil exploration.

On March 14, 1996, the Securities and Exchange Commission approved the change in corporate name from JMIC to the present name, and the change in primary purpose from mining to a holding company, engaged in real estate, land development, energy and health care services.

ATN invests in real properties and stocks. The company’s investment in real properties includes several units of office condominium at Summit One Tower in Mandaluyong City. The units are for sale or leased through either direct sales from walk-in clients, or referrals from independent brokers.

ATN’s subsidiaries are Palladian Land Development Inc. for its real estate development; ATN Philippines Solar Energy Group Inc.; Advanced Home Concept Development Corp., its unit for residential properties development; and Managed Care Phil. Inc., a health care services firm focusing on outpatient clinics.

Home Business Companies ATN supplies rock aggregates for rail project

More from author

PSE greenlights REIT listing of DDMP

The Philippine Stock Exchange Inc. (PSE) has approved the initial public offering (IPO) listing application of DDMP REIT Inc.,...

SEC unveils online payment system

The Securities and Exchange Commission (SEC) said its online payment system will be operational starting March 1. The agency’s payment...

Health crisis slashed income of Robinsons Retail in 2020

Robinsons Retail Holdings Inc. (RRHI) said its income dropped 30 percent last year to P3.19 billion from the previous...

Ayala Land to finance 2021 capex via loans, bond issue

Property developer Ayala Land Inc. said it is set to borrow between P8 billion and P10 billion this year...

Ayala Land income plunges as PHL reels from Covid-19

Ayala Land Inc. on Wednesday said its attributable income fell 74 percent last year to P8.72 billion from the...

AREIT income up by 42% last year

AREIT Inc., the real estate investment trust (REIT) of Ayala Land Inc., said it earned P1.23 billion last year,...

SEC approves AboitizPower bond float, IPO of hospital

The Securities and Exchange Commission (SEC) has approved the registration statements of the P30-billion bond float of Aboitiz Power...

Top News


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More from this section

Exec: Dito won’t turn a profit for two years

While it is set to launch its commercial operations next week, Dito Telecommunity Corp. said it will not be able to turn a profit in 2022, given the long-term gestation period of its investments, which will reach the P226-billion...

Random posts

PHL rank in 2021 Women, Business, Law index dips

THE Philippines’s performance in the Women, Business and the Law 2021 declined slightly, according to the World Bank. Data from the report showed that the Philippines now scored an average of 78.8 out of 100 in the 2021 report, lower...

BM Cycling Livestream

Graphic | BM Webinar

BM Broader Look Podcast