ATN joins ini­tial phase of com­muter rail­way project

Business World - - Corporate News - Ar­jay L. Bal­in­bin

LISTED ATN Hold­ings, Inc. (ATN) said it is tak­ing part in the con­struc­tion of the P54-bil­lion phase 1 of the North-South Com­muter Rail­way (NSCR) project.

“Last Septem­ber 2020, ATN com­menced de­liv­ery of rock ag­gre­gates to the project to be used as con­struc­tion materials,” ATN said in an e-mailed state­ment at the week­end.

The listed hold­ing com­pany added it is “ac­tively en­gaged” in dis­cus­sions for rock sup­ply ar­range­ments with var­i­ous public and pri­vate pro­po­nents com­mit­ted to large-scale in­fra­struc­ture devel­op­ment in the coun­try.

ATN op­er­ates rock-ex­trac­tion fa­cil­i­ties in Ro­driguez, Rizal. It also has in­ter­ests in real es­tate, re­new­able en­ergy, and tech­nol­ogy.

“Pre­vi­ously, ATN dis­closed in­di­cated 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 1 mil­lion tons of high-grade rock ag­gre­gates for fu­ture de­ploy­ment,” the com­pany added.

“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,” ATN Chief Ex­ec­u­tive Of­fi­cer Arse­nio T. Ng said.

The Philip­pine Na­tional Rail­ways (PNR) Clark Phase 1 (Tu­tuban-Malo­los) project aims to con­nect Tu­tuban, Manila to Malo­los. Once com­pleted, the 38-kilo­me­ter rail­way project is ex­pected to re­duce travel time from about 1 hour and 30 min­utes to 35 min­utes.

The project is now 40.48% com­plete. It is ex­pected to be par­tially op­er­a­ble by De­cem­ber next year, ac­cord­ing to the Trans­porta­tion de­part­ment.

“In 2019, the first phase of the [NSCR] project was awarded to the joint ven­ture of quadru­ple A-rated con­trac­tor D.M. Con­sunji and Ja­pan’s Tai­sei Cor­po­ra­tion,” ATN noted.

The Trans­porta­tion de­part­ment also plans to start the con­struc­tion of the PNR Clark Phase 2 rail line con­nect­ing Malo­los to Clark within the fourth quar­ter.

The com­pa­nies that will work on the project are Hyundai En­gi­neer­ing & Con­struc­tion Co., Ltd., Dong-ah Ge­o­log­i­cal En­gi­neer­ing Co. Ltd., Me­gaw­ide Con­struc­tion Corp., Ac­ciona Con­struc­tion Philip­pines, Inc., Dae­lim In­dus­trial Co., Ltd., Ital­ian-Thai Devel­op­ment Public Co. Ltd., EEI Corp., and POSCO En­gi­neer­ing and Con­struc­tion Co., Ltd. —

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