SAAG subsidiary in final negotiations for housing project in India

KUALA LUMPUR (Nov 24): SAAG Consolidated (M) Bhd's subsidiary, SAAG RR Infra Ltd, is in advanced negotiations with the main licensee for an affordable housing project in India.

In a filing to Bursa Malaysia on Wednesday, SAAG said the main licensee has the rights for the German technology to build 60,000 solar powered affordable homes per annum for the state of Tamil Nadu, India.

"SAAG RR has built seven model homes, financed by the main licensee, which is ready to be handed over by the Chief Minister of Tamil Nadu to the underprivileged, shortly.

"Appropriate announcements will be made if and when the project is awarded to SAAG RR, should it fall within the ambit of the listing requirements of Bursa Malaysia Securities Bhd," the company said. — Bernama

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