Lots of progress here!
Key points
The Company has advanced discussions with Emirates Development Bank (EDB) for the project financing. It is proposed that EDB would capitalise interest until the project achieves profitable operations. EDB would not receive equity participation in the project. In order to advance the financing to formal approval and a binding Term Sheet, EDB has requested an independent Feasibility Study and Amaero has retained Frost & Sullivan for such purpose.
Amaero to hold 100% Equity in this arrangement.
Site in excellent location in UAE has been selected.
The Feasibility study will now be of great interest but this sounds very positive
Ann: UAE JV and Corporate Update, page-4
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