Canada’s IHI Developments has concluded three construction licenses for the Arabian Gulf Region. The licenses cover the United Arab Emirates (UAE), Qatar and Kuwait.
The company received an irrevocable one million dollar deposit on account of the license fee commitments and expects to receive two further irrevocable million in payments by March 31, 2003 and by June 30, for a total of three million dollars of irrevocable payments. The licenses are at arm's length to the company.
IHI’s principal business is the development and commercialization of a new building system in Canada, and internationally. To date, IHI's system has attracted interest from more than 65 different countries worldwide. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
