CORPORATE
KBC International Ghana signs MoU with Liberia SEZ Authority for $12.5-mn projects
- IBJ Bureau
- Sep 25, 2024
KBC Global (previously known as Karda Construction), in the business of construction and real estate development, has informed that KBC International Ghana – a drop-down subsidiary of wholly-owned subsidiary of KBC Infrastructure UK – has entered into an MoU with Liberia Special Economic Zone (SEZ) Authority for construction and development of projects of residential building complexes, low-cost housing and commercial space in the SEZ with estimated cost of $12.5 million.
The project is expected to commence from Q2 of 2025 and is expected to complete within three calendar years. Liberia SEZ Authority is an entity established by the Government of Liberia under the SEZ Act, 2017, having registered office at Layaette Harmon building, Lynch St, Monrovia, Liberia.
This is a second prestigious international order received by KBC Global.
In June 2024, KBC Global, through its subsidiary Karda International Infrastructure, had secured a $20-million civil engineering subcontract in the soft infrastructure segment from CRJE (East Africa). CRJE, a part of the China Railway Construction Group, has a strong legacy of building railways and five-star hotels across Africa. This contract marks KBC Global’s entry into Africa’s infrastructure development, positioning the company as a key player in the region’s growth.
On September 21, 2024, the company informed that it had successfully fulfilled its payment obligation to Capri Global Capital and had fully regularised the default on September 19, 2024. This marks a crucial step in its financial recovery efforts. Furthermore, the company has entered into a favourable MoU with Capri Global Capital, securing a waiver of non-financial penal interest.
Established in 2007, KBC Global specialises in developing and selling residential and residential-cum-office projects in Nashik. The company’s key projects include HariGokuldham, HariNakshtra-II Eastext Township and more. The company focuses on residential, commercial and contractual projects and has announced strategic expansion plans domestically and internationally.
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