JMC Projects (India) has signed an agreement with Fahi Dhiriulhun Corporation (FDC), a state-owned company of the Government of the Republic of the Maldives, for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives.
The total value for this project is estimated to be around USD 137 Million (~Rs.1,000 crore) and is planned to be financed via a loan from multilateral funding agency.
The financial closure of the project is expected to conclude soon and construction on the project will commence after the financial closure .
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Sharekhan is bullish on JMC Projects (India) has recommended buy rating on the stock with a target price of Rs 83 in its research report dated January 06, 2020.
JMC Projects (India) announced that Vardhan Dharkar, Director (Finance) & Chief Financial Officer (Key Managerial Personnel) of the Company has tendered his resignation vide letter dated 29 December 2020 due to personal reasons.
Accordingly, he will be relieved from the services of the Company with effect from 31 December 2020 after the close of business hours.
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