Greenergy creates 2 new units

MANILA, Philippines — Greenergy Holdings Inc., the listed holding company of businessman Antonio Tiu, is creating two new subsidiaries that will undertake more projects despite the difficult business environment brought about by the COVID-19 pandemic.

The move is part of Tiu’s plan for Greenergy, which is to maximize opportunities for business growth, enhance shareholder value and cater to the evolving needs of Filipino consumers, especially during this difficult time.

In a disclosure, Greenergy said the two subsidiaries are Green Tunnel Boring Corp., which would undertake services in infrastructure development, particularly underground connectivity; while Green Communities Development Corp. would undertake transient oriented community development projects to create residential and commercial complexes.

Tiu’s Philippine Infradev Holdings is the listed proponent of the Makati Subway Project, which proposed to connect key points in Makati such as the current Central Business District along Ayala Avenue, the Makati City Hall, the Poblacion Heritage Site, the University of Makati, Ospital ng Makati and the other new business districts within the city.

The $3.5 billion project is touted as the biggest PPP project for a local government unit and is a 10-kilometer railway system to be built in Makati.

Greenergy has been constantly evolving as a business. Tiu announced earlier that he was converting Greenergy into a holding firm to own Agrinurture Inc. (ANI), his agro-commercial business.

Upon issuance of the pertinent regulatory approvals, Tiu will reorganize and transfer ANI shares to Greenergy. This will include the infusion of the fintech assets of ANI consisting of digital banking and the agri-token digital ecosystem among others.

Earlier disclosures showed that Greenergy currently owns 100 percent of WinSun Green Ventures; 62.3 percent of Sunchamp Real Estate Development Corp; 51 percent of the Yakuru Group which is into medicinal cannabis; and 18 percent of ANI.