Marg Constructions receives approval for 2 SEZs, business plans

Marg Constructions Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 23, 2006, inter alia,. to conduct the following business:

1. To take note of in-principle approval received for two Special Economic Zones (SEZs) in Kancheepuram District near Mahabalipuram.

2. To take note of the financial closure of Karaikal Port Project undertaken through the Wholly Owned Subsidiary "Karaikal Port Pvt Ltd".

3. To take note of the agreement entered with Oakwood Asia Pacific Ltd for Serviced Apartment.

4. To discuss and review Residential Apartment Project at Kalavakkam.

5. To discuss and review the progress in raising of funds overseas upto USD 60 Million by issue of ADR/GDR/FCCB.

6. To consider raising of funds by way of Qualified Institutions Placement or Preferential Allotment.

7. To review the progress of proposed Special Economic Zone (SEZ) at Tirupati, Andhra Pradesh.

Source : Equity Bulls

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