Rose Petroleum updates on Cuba tendering round

Rose Petroleum updates on Cuba tendering round
By StockMarketWire | Mon, 4th July 2016 - 07:44

Rose Petroleum said Rose Gypsum has been selected from a number of
tendering companies to exclusively proceed into the detailed
negotiations phase of a gypsum transaction in Cuba.

Rose Gypsum has been selected on the grounds of its technical and
professional expertise, following its negotiations with both Empresa
Materiales De Construccion Ciego de Avila ("EMC"), the local state
company responsible for the project and the Cuban Ministry of
Construction ("MICONS").

The commencement of negotiations is scheduled to take place in Cuba in
July. Rose Gypsum is negotiating to become the joint operator,
distributor and manufacturer on the project.

The negotiation process will be exclusively between EMC and Rose Gypsum,
and although there is no guarantee that a deal will be completed, this
is a very significant achievement and milestone for Rose in Cuba.

If Rose Gypsum is successful in completing the deal, it would become the
sole manufacturer of gypsum related products operating in Cuba. Rose
Gypsum will be well positioned to meet the domestic demand in these
products, driven by the significant growth in tourism and construction.

This opportunity will be further enhanced by any future lifting of
current trade embargoes.

Source: Rose Petroleum updates on Cuba tendering round | interactive
investor -
http://www.iii.co.uk/stockmarketwire/336055/rose-petroleum-updates-cuba-tendering-round