KBC Global Secures ₹105 Crore Project in Liberia's SEZ

KBC Global, a construction and real estate firm, has signed a memorandum of understanding with the Liberia Special Economic Zone Authority through its subsidiary, KBC International, to develop a residential building complex, low-cost housing, and commercial space. The project, valued at $12.5 million (approximately ₹105 crore), is set to commence in the second quarter of 2025 and is expected to be completed within three years.

The Liberia Special Economic Zone Authority is an entity established by the Liberian government to promote economic growth in the region. This marks KBC Global's second international project following a $20 million (₹168 crore) civil engineering subcontract in the soft infrastructure segment from CRJE (East Africa), a subsidiary of the China Railway Construction Group, secured in June.

In recent financial developments, KBC Global has fulfilled its payment obligations to Capri Global Capital, fully regularizing a previous default. The company has entered into a favorable MoU with Capri Global, resulting in a waiver of non-financial penal interest. The current outstanding loan with Capri Global Capital stands at ₹13 crore, which is expected to accelerate ongoing projects.

Additionally, KBC Global's board has appointed Muthusubramanian Hariharan as Executive Director and CEO to spearhead global business development efforts. The board also approved the conversion of 60 foreign currency convertible bonds into equity shares in line with revised terms, further strengthening the company's financial position.

HBL