RPP INFRA PROJECTS LIMITED : WITHDRAWS FROM LEGEND 96 PROJECT

• Company withdraws from "Legend 96" residential project in Sri Lanka due to project delays and financing challenges. • RPP Infra's subsidiary, RPP Infra Projects (Lanka) Limited, was to be a joint developer with Wills Realtors. • Challenges included obtaining regulatory approvals, arranging project financing, and proposed dilution of revenue-sharing. • Company has incurred expenditure and is in the process of recovering amounts from Wills Realtors. • Withdrawal is not expected to have a material adverse impact on the Company's ongoing operations.

R P P Infra Projects Ltd

Open attachment

← Back to feed