TKS to Invest USD 120 mln in 2008
18 January 2008
Ukrainian developer TKS Management (37W1 GR: BUY) announced investment budget of USD 120 mln for 2008. According to TKS’ statement, the company will construct 100 ths m2 of real estate this year. In 2008 the company expects cash inflow from its projects of USD 25 mln. Alexander Romanov: The amount of investment budgeted for 2008 is in line with the construction schedule previously announced by the company. Two thirds of the sum will be spent on construction of two retail centers in Lviv. As the company stated previously, it is planning to draw USD 50 mln in CLNs and another USD 50 mln through project financing from banks to fund its construction needs.
