ATN Holdings, Inc. Is Set to Fully Resumes Operations After the Reinstatement of Its Mineral Processing Permit
January 26, 2021 at 09:31 pm
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ATN Holdings, Inc. is set to fully resume operations after the reinstatement of its Mineral Processing Permit. In an official written correspondence, the Mines and Geosciences Bureau Regional Office No. IV, stated that quarrying operations in the Rizal Province was not the proximate cause of the flooding incident in Marikina City on November 12, 2020. In the same letter, and after due validation, ATN has been deemed compliant with all indicated recommended actions. During the downtime period, ATN strategically conducted equipment maintenance work, roadside clearing and other site improvement activities. In addition, ATN extended immediate assistance to areas that were affected by the flooding caused by the heavy rainfall brought about by Typhoon Ulysses. Previously, ATN has declared its unwavering commitment to the government's flagship "Build, Build, Build" infrastructure program. For 2021, the government has approved a national budget of 4.5-trillion of which approximately 29% equivalent to 1.3-trillion is allocated for infrastructure development.
ATN Holdings, Inc. is a Philippines-based holding company. The Company is engaged in real estate, land development, energy, and health care services. The Company operates in two segments: Real estate leasing and Aggregates, which is involved in the production and selling of rock aggregates. The Company invests in real properties and stocks. Its investments in real properties include several units of office condominiums at Summit One Tower located at 530 Shaw Boulevard, Mandaluyong City. Summit One Tower is a 48-storey building. Units of Summit One Tower are office condominium spaces ready for occupancy with its own separate six-level parking building and two basement parking levels. The units are for sale or leased through either direct sales or referrals from independent brokers. Its subsidiaries are Palladian Land Development Inc. (PLDI), ATN Philippines Solar Energy Group, Inc. (ATN Solar), Advanced Home Concept Development Corp. (AHCDC) and Managed Care Phil., Inc. (MCPI).