KHOT Infrastructure to Expand Mongolian Operations
April 18, 2015
ULAANBAATAR, MONGOLIA — KHOT INFRASTRUCTURE HOLDINGS, LTD. (“KHOT” or the “Company”) (CSE: KOT) is pleased to provide shareholders with an update on its Mongolian Infrastructure operations.
As previously announced on December 29, 2014, the Company completed its first Mongolian highway repair contract in November 2014. This initial six kilometer project, although modest in size, was an important step for the Company and its Mongolian operating subsidiary, AMZ, clearly demonstrated management’s ability to successfully conclude all aspects of a Mongolian road construction contract.
Management has determined that timing is now optimum for the Company to rapidly expand its operational capacity to take advantage of the full range of infrastructure opportunities currently approved or with approval pending. This includes 5,400 kilometers of new paved road construction scheduled for completion by the end of 2016. Mongolian government plans include tenders for construction of both contract and concession roads.
The Company would benefit from a significant joint venture partner to bolster the financial credibility and major construction experience required to successfully win tenders in both the contract and concession categories.
Management is pleased to report that KHOT has entered into a binding Memorandum of Understanding (MOU) with a major foreign state owned entity to form a special purpose consortium which provides for joint participation in the bidding for all tender calls.
This combination will enable the consortium to participate in the full range of construction opportunities for approximately 500 kilometers of concession road projects.
“We are excited to co-venture with a corporate partner of this stature and experience. The combined companies will create a formidable team with the resources necessary to successfully exploit this enormous opportunity”, said James Passin, Chairman of KHOT.
For more information, please visit www.khot-infrastructure.com or contact:
President and CEO
1 760 485 7678
Sabino Di Paola
Chief Financial Officer
1 613 834 6513
Email: [email protected]
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.