Odessa Update

30 Apr 2008 07:02

Aisi Realty Public Limited30 April 2008 30 April 2008 Aisi Realty Public Limited Building Construction to commence at Bela Logistics Park development in Odessa Aisi Realty Public Limited ("Aisi" or "the Company"), a property investmentcompany focusing on development projects and related investments in Ukraine,announces that it signed an agreement with a general contractor for theconstruction of the buildings for the Bela Logistics Park development in Odessa.Building construction will begin immediately with completion of the projectexpected before the end of 2009. The agreement has been entered into following the receipt of building approvalfrom the Architectural, Construction Council of Odessa Region for the Company'sBela Logistics Park development. Following the receipt of the building permitall necessary permissions and approvals have now been received to allow thecommencement of construction. The Company's Bela Logistics Park development is adjacent to the mainOdessa-Kiev highway, approximately 20km from Odessa. Three independent warehousebuildings are to be constructed with a gross area of 108,000 sq. m., each withtheir own offices, gatehouse and fenced parking. One of the buildings has beendesigned to incorporate approximately 11,000 sq. m. of chilled storage. Commenting on the project, Director of Aisi, Beso Sikharulidze said: "We haveseen a lot of interest from operators in the Odessa region. This is an importantproject for us in an excellent location and we are very pleased to be one of thefirst developers breaking ground in the area." Enquiries: AisiBeso Sikharulidze, Director +38 044 459 3000 Libertas CapitalAndrew Hardy, Aamir Quraishi +44 20 7569 9650 Corfin CommunicationsNeil Thapar, William Cullum, Clare Perks + 44 20 7977 0020 This information is provided by RNS The company news service from the London Stock Exchange