ATN Holdings rides on Build Build Build program

Iris Gonzales - The Philippine Star

MANILA, Philippines — ATN Holdings Inc., a publicly listed company engaged in various businesses including real estate land development and energy, hopes to capitalize on the Duterte administration’s ambitious Build Build Build program.

The company said it was raising P500 million to fund the acquisition of heavy equipment and expand the capacity of its rock crusher in Rizal to support the government’s infrastructure program.

“In line with this Build, Build, Build momentum created by the budget approval of Congress of the Philippines, ATN is now positioning itself to encash the accreted value of its natural resources, particularly its large hi-quality basalt rock deposit in Rodriguez, Rizal, which is essential to infrastructure construction,” ATN said in a regulatory filing.

ATN’s rock crusher project is expected to commence commercial operations in early 2018.

“ATN has stepped up its preparation of its 256-hectare property in Montalban, Rizal. Equipment and steel assemblies needed for crushing and processing plants from China are being installed to make available in 2018 rock aggregates that are the cornerstone materials in any major mega Manila infrastructure projects,” ATN said.

It said Chinese investors interested in rock aggregates demand big armour rock boulders produced from simple blasting of rock deposit without further crushing process for supply to reclamation projects in Manila Bay from Baseco offshore to Sangley Point, covering 1,500 hectares.

 ATN’s 256-hectare property in Rizal is estimated to contain large deposits of basalt and andesite rocks.

The surge in rock demand is due to the government’s Build Build Build program of the government.

The program also prompted ATN to resize the rock crusher of its solar plant to 500 tons per hour or three million tons per year.

The P500 million funds needed for the rock crusher will be served easily by its revenues of at least P1 billion per year, ATN said, noting that the rock deposit is estimated to last for 50 years at a rate of three million tons annual extraction.

“Given the large hi-quality rock deposit in ATN project site in Rodriguez Rizal, major cement industry players and Chinese investors involved in building bridges and reclamation projects in Manila indicated their interest to invest in ATN,” the company said.

vuukle comment
  • Latest
  • Trending
Are you sure you want to log out?

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

or sign in with