Eco Buildings Group Plc (LSE:ECOB) has provided an update on the expected timing of a payment related to its joint venture in Senegal, with an initial €1.75 million deposit from partner G2 Invest Group expected in mid-February.
The payment relates to Eco Buildings’ strategic joint venture with G2 Invest Group, which is focused on modular residential construction in Senegal. The deposit represents the first funding milestone under the partnership structure announced previously.
Eco Buildings said it is also working to secure additional residential construction projects in Senegal.
The company noted that the scale and volume of confirmed housing commitments will determine the final configuration and number of production lines deployed under the joint venture.