Concurrent withdraws from Kazi Aviation Deal

Concurrent (India) Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on September 22. 2010, inter alia, discussed and decided to withdraw from the transaction that the Company has entered with M/s. Kazi Aviation & Travel Services.
Further the Board has decided to withdraw from pursuing Sikkim Hydro Power Project, Srilanka Projects and JV entered with Prince of Kingdom of Saudi Arabia for a JV in Ground Handling Services in Saudi Arabia.
The Board also has taken note that withdrawal from the above mentioned projects will have no financial impact in terms of revenues for the Company as the project (mentioned in Point No:1) and pipe line order book (mentioned in Point No.2) are not generating any revenues for Concurrent at present.
22/09/10 Equity Bulls

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Categories: Foreign Sep 2010, Indian Aviation- In General Sep 2010