SET Announcements

Loxley Plc (LOXLEY) reported that the company has won a concession to install telephone lines and provide services in Rajin Sonbong Free Economic and Trade Zone (FETZ) from Korea Republic. The concession will last no shorter than 30 years, and is renewable. The company will survey the project site in the FETZ and other areas in the TumenRiver basin developmeent zone in the initial stage. It will start the implementation of the project if the survey produces satisfactory results and after support from the Korean government. Apart from operating profits from the project, LOXLEY will also gain benefits in term of having business opportunities to expand the company's other businesses into North Korea, exchanging technology know-hows with the host country, and participating in necessary infrastructure development in Rajin Songbong region. LOXLEY will report the progress of the project later. Translated by The Nati