ATN to raise R500 M to expand its rock crushing capacity

ATN Holdings Inc. is raising R500 million, either in debt or quasi-equity, to expand its rock aggregates capacity which will supply Chinese firms that will be contracted for the government’s massive infrastructure program.

In a disclosure to the Philippine Stock Exchange, the firm said it will be raising additional funds to take advantage of the opportunity opened by the BUILD, BUILD, BUILD program of the government.

ATN said it “is now positioning itself to en-cash the accreted value of its natural resources, particularly its large hi-quality basalt rock deposit in Rodriguez, Rizal, which is essential to infrastructure construction.”

The government’s infrastructure program accelerated preparatory activities of ATN in cooperation with mainland Chinese investors and engineers.

To-date, ATN said it has accomplished multi-level cooperation with Chinese interests, culminating in tow investment forums and implemented the rock crusher project which is expected to start commercial operation early next year.

To establish its partnership with China, ATN said it has stepped up the 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 infrastructure projects.

“Chinese investors interested in rock aggregates, demands big armor 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 (150 million tons of armour rock boulders,” said ATN.