Aim-quoted Chaarat has concluded the previously announced joint venture (JV) agreement with Turkish contractor Çiftay İnsaat Tahhüt ve Ticaretthe Turkish, in terms of which the parties will collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyzstan.
Based on an agreed valuation of $252-million for Tulkubash and Kyzyltash, Çiftay will progressively invest up to $31.5-million in cash for a corresponding 12.5% equity stake in these two project assets.