Shares in Eco Buildings Group PLC (AIM:ECOB, FRA:9ZL0), the AIM-listed modular construction company, rose as much as 9% in early trading after it said it had begun mobilising a new manufacturing production line in Senegal.
The company said engineering, procurement and construction planning had formally started with its contractor for the facility, which will be dedicated to fulfilling local housing demand.
Its joint venture partner, Senegalese firm G2 Invest Group, has now allocated its full equity commitment of €1.75 million into the venture's subsidiary, Eco Buildings Senegal LLC.
G2 holds a 35% stake in the joint venture, with the capital earmarked for establishing a local production line and delivering housing projects in the country.
As part of the next phase, the joint venture will ship and install a fully constructed show house in Senegal, funded entirely by G2, to support final government approvals and a wider programme rollout.
Eco Buildings described the showhouse as a key commercial and regulatory milestone toward large-scale delivery.
The company uses glass fibre reinforced gypsum (GFRG) technology, a modular construction method designed to enable faster and more sustainable building compared with traditional approaches.
After the initial burst, the stock settled at 16.25p, up 4%.