Terminal Brovary Update

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[{"type":"text","content":"\n Aisi Realty Public Limited\n01 November 2007\n\n\n1 November 2007\n\n Aisi Realty Public Limited\n\n Terminal Brovary Update\n\nAisi Realty Public Limited ('Aisi' or 'the Company'), a property investment\ncompany focusing on development projects and related investments in Ukraine,\nannounces that it has received building approval from Brovary City Council of\nKiev Region for its Terminal Brovary logistics complex. Following the receipt of\nthe building permit all necessary permissions and approvals have now been\nreceived to allow the commencement of construction. Furthermore, the general\ncontractor has been selected for construction of the building, following\ncompletion of ground works. It is expected that building construction work will\nbegin immediately. Completion of the project is expected in mid-2008.\n\nTerminal Brovary is some 27 kilometres from Kiev and will be one of Ukraine's\nfirst Class A logistics warehouses. Over 42,800 square metres of warehouse space\nwill be built together with office units. Terminal Brovary is located\napproximately 17 kilometres from Kiev-Borispil airport and is strategically\npositioned to serve key markets in Europe and Russia being situated on the\nintersection of two major highways leading north-east to Moscow and south to\nKiev-Borispil airport.\n\nIn addition, it has been decided to increase the Company's interest in Terminal\nBrovary to 90% through the acquisition of a further 30% stake from the original\nvendors for US$1.25 million, in accordance with the sales and purchase agreement\nentered into in September 2006. The remaining 10% held by the original vendors\nwill be acquired following the signing of a lease agreement for the logistics\ncentre.\n\nCommenting on the project, Director of Aisi, Beso Sikharulidze said: 'We are\nvery pleased to start work at the Brovary Warehouse and we have had good early\nindications of interest from international and local logistics companies. This\nis our first green-field venture and a flagship project in the local region.'\n\nEnquiries\n\nAisi Realty:\nBeso Sikharulidze 0038 044 459 3000\n\nCorfin Communications:\nNeil Thapar, William Cullum 020 7977 0020\n\nLibertas Capital:\nAndrew Hardy, Aamir Quraishi 020 7569 9650\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2...

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