KBC Global Ltd bags Sub contract worth $20 Mn

KBC Global Ltd, a prominent player in the construction and real estate development sector has been awarded a significant subcontract worth approximately US $20 million by CRJE Ltd. CRJE is a modern enterprise with a rich history in constructing railways and five-star hotels across Africa. This substantial contract focuses on the civil engineering segment of soft infrastructure and represents a major milestone for KBC Global. The contract was secured through KBC Global’s wholly-owned Kenyan subsidiary, Karda International Infrastructure Limited, underscoring the company’s expanding footprint in the African market.

The contract award highlights KBC Global’s growing capabilities and reputation in international infrastructure development. This project is a testament to the company’s commitment to contributing to Africa’s infrastructure growth, marking its first major step in becoming a key player in the continent’s development. With this achievement, KBC Global is poised to make significant contributions to East Africa’s infrastructure landscape, aligning with the region’s ambitious growth and development goals.Originating from the TAZARA Construction Aiding Team of the Jianchang Engineering Bureau under the China Ministry of Railways, CRJE is also part of the prestigious China Railway Construction Group company, established to drive business development in East Africa.

The company has also announced a strategic plans for expansion in both domestic and international markets. In the month of April 2024, board of directors considered and approved conversion of total 60 bonds into equity shares as per the terms and conditions of the issue of FCCB. On June 4, 2024 company has announced that it has successfully handed over possession of 12 units from its residential cum commercial project Hari Kunj Mayflower  during month of April and May 2024. On the occasion of Gudi Padwa, the company has successfully handed over possession of 54 units of the project Hari Kunj Mayflower  a residential cum commercial project situated at Karmayogi Nagar, Nashik ,Maharashtra. In the financial year 2022-2023, Karda Construction Limited reported revenues of Rs. 10,818.56 Lakhs.