July 30, 2019 at 07:15 pm
Jenniffer B. Austria
ATN Holdings Inc., a company led by businessman Arsenio Ng, said it is teaming up with China Machinery Engineering Corp. and Broad Homes Industrial International Co. Ltd. to invest P2.5 billion in a state-of-art pre-cast housing technology facility in Rodriguez, Rizal.
ATN said in a disclosure to the stock exchange it signed a memorandum of understanding with CMEC, a subsidiary of China National Machinery Industry Corp. and BHI to build a pre-cast facility that is capable for reducing the construction period for a single house from three months to 12 hours and a multi-level housing from six months to one week.
The pre-cast facility, which will rise in ATN’s 25-hectare property in Rizal, will have the capacity to produce 6,000 housing units per year and improve the quality of houses using new technologies.
ATN said it expects the entry-level plant to generate P18 billion in forward-looking annual revenues for the company.
The precast technology for housing is seen to reduce 35 percent material wastage at project site, offer higher quality via factory-controlled process and reduce construction time and cost.
ATN said it was planning to integrate its 82-hectare rock quarry development, 500-ton-per-hour aggregate crusher plant, cement batching plant and construction materials to the housing business with a pre-cast concrete plant for multi-story building units with various housing agencies of the government.
The company said the forward integration would create two major business segments for the company that would support the government’s “Build, Build, Build” infrastructure projects and mass housing projects.
“ATN aims to produce 10,000 housing units per year starting 2020 to complement the ‘Build, Build, Build’ program of His Excellency President Duterte and Philippine Medium-Term Development Plan,” the company said.
ATN said its board approved the plan to raise P1 billion via private placement, P1.5 billion in bridge financing from CMEC and P2.5 billion in bank loans.
ATN is a holding company with investments in real estate, land development, energy and healthcare services.
Its subsidiaries are Palladian Land Development Inc., ATN Philippines Solar Energy Group, Advanced Home Concept Development Corp. and Managed Care Phil. Inc.