ATN joins initial phase of commuter railway project
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. —