Infrastructure firm KBC Global Ltd's subsidiary KBC International has signed an agreement with Liberia SEZ Authority for the development of commercial and residential projects worth USD 12.5 million (around Rs 105 crore).

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Liberia SEZ Authority is developing commercial space, residential and low-cost housing projects in a special economic zone which is expected to be completed within three years, KBC Global said in a statement.

The project is expected to commence in Q2 2025 and is expected to be completed within three calendar years. 

Last week, KBC Global announced that it successfully fulfilled its payment obligation to Capri Global Capital Ltd and fully regularised the default on September 19, 2024.

The company said it has entered into a favourable MoU with Capri Global Capital, securing a waiver of non-financial penal interest. As of today, the outstanding balance with Capri Global Capital Ltd stands at Rs 13.50 crore.

Marking its entry in the Africa's infrastructure development market, KBC Global in June bagged a USD 20 million civil engineering subcontract in the soft infrastructure segment from CRJE (East Africa) Ltd.

Liberia Special Economic Zone Authority is entity established by Government of Liberia under Special Economic Zone Act 2017 having registered office at Layaette Harmon building, Lynch St, Monrovia, Liberia.