Project Update

RNS Number : 4871E

SKIL Ports & Logistics Limited

04 November 2015

 

4^th November 2015

SKIL Ports & Logistics Limited

("SPL" or the "Company")

Project Update

SKIL Ports and Logistics, which is developing a major new green field port and logistics facility in Navi Mumbai, India, close to the 20 million metropolis of Mumbai, is pleased to report that the independent Directors of the Company visited the site on 3 November 2015 to monitor progress of the development and meet local Authorities and the site management.

Despite heavier than normal rain falls in early October, which caused some minor delays, activity on site is progressing well.

On 14 September 2015 the company confirmed the re-mobilisation of the contractor's workforce. The project has reclaimed seven hectares to date and, with continuous 24 hour a day reclamation and infill works now in operation, the Directors expect significant progress for the project in coming weeks.

Sections of the piling gantry, which were fabricated on a dedicated site close to the port development are being delivered for assembly.  Over the next three weeks the project will focus on creating a 300 metre bund to reach into the sea to create the area where the piling gantry will be erected for operation to start piling the port 1000 metre quay wall.

The Company website now has updated photos of the site works to its website. These are also available to view on this link  - http://www.skilpl.com/news.html. The Company will provide updated site photos on its web site on a regular basis going forward to enable visitors to see the continuous development phase of this important project for international cargo operations into the Mumbai and regional development area.

Enquiries:              

SPL                                                         Nikhil Gandhi/Pavan Bakhshi/Jay Mehta
                                                                C/O Redleaf PR [phone]

Cenkos Securities plc                     Stephen Keys/Camilla Hume
(Nomad and Broker)                      [phone]

Redleaf PR                                          Charlie Geller/Harriet Lynch
(Financial PR)                                    [phone]
                                                                [e-mail]

 

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