New Delhi : Infrastructure company KBC Global Ltd announced on Tuesday that its subsidiary KBC International has entered into a deal with Liberia SEZ Authority to build commercial and residential projects valued at USD 12.5 million (approximately Rs 105 crore). The Liberia SEZ Authority is working on constructing commercial space, housing projects, and low-cost residential buildings within a special economic zone, with an expected completion time of three years, as stated by KBC Global. It was mentioned that the project will start in the second quarter of 2025 (Q-2, 2025).
Last week, KBC Global confirmed that it fulfilled its payment obligation to Capri Global Capital Ltd and fully rectified the default that occurred on September 19, 2024. The company announced a beneficial Memorandum of Understanding with Capri Global Capital, obtaining forgiveness of non-financial penalty interest. Currently, the balance due to Capri Global Capital Ltd is Rs 13.50 crore. Entering the African infrastructure development market, KBC Global secured a $20 million civil engineering subcontract in the soft infrastructure sector from CRJE (East Africa) Ltd. in June. KBC Global Ltd announced on Tuesday that its subsidiary, KBC International, has reached a deal with Liberia SEZ Authority for the construction of commercial and residential projects valued at USD 12.5 million (approximately Rs 105 crore).
According to a statement from KBC Global, Liberia SEZ Authority is working on projects for commercial space, residential, and low-cost housing within a special economic zone, with completion expected in three years. It was stated that the project will start in Q-2, 2025 (second quarter of 2025). KBC Global recently confirmed that it has met its payment obligation to Capri Global Capital Ltd, fully resolving the default on September 19, 2024. The company announced that it has signed a positive MoU with Capri Global Capital, obtaining an exemption from non-financial penalties.
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