The Agreement establishes a framework for jointly identifying, bidding for and executing government and private-sector infrastructure opportunities across Africa. It is a non-exclusive framework arrangement that does not create any joint venture or guarantee any minimum business or revenue.
Key Terms and Conditions:
- Dharan International Limited shall originate and coordinate opportunities
- Kalind Limited shall provide technical expertise and approved credentials
- Kalind may execute agreed subcontract work upon successful award of projects
- Individual projects shall be governed by separate Bid Authorisations and Subcontract Agreements
- No shareholding exists between the parties
- No related party relationship exists
- Transaction does not fall under related party transactions
- No issuance of shares involved
- No impact on management or control of the Company
Business Impact:
The Agreement is expected to enhance the Company's opportunities to participate in infrastructure projects across Africa. However, it does not assure any immediate order, revenue or financial commitment. Actual business shall depend on successful award of individual projects and execution of definitive project-specific agreements.
Duration:
Initial term of three (3) years, automatically renewable for successive one-year periods unless terminated in accordance with the Agreement.