Leni Gas Cuba’s Venture Strikes First Import Deal
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Cuba-focused investor Leni Gas Cuba Ltd told investors it had received its first import contract under the joint venture, struck last November, worth around US$30,000.
Leni said the deal was in the tourist sector and the joint venture is also in negotiation over a number of import further deals.
Last year the group inked a binding agreement with trading company Groombridge Trading Corporation (GTC) to form a new unincorporated 50/50 joint venture.
The aim was to expand GTC’s existing business of supplying products, machinery and equipment to the fast growing Cuban tourism sector and exporting agricultural products and to assist it with its existing order book of imports for the hotels and tourism sector.
David Lenigas, Leni Gas Cuba’s executive chairman, said today: “Cuba imports most of what it consumes and we see a bright future for this business as the economy grows.
“We expect many more import orders to be approved over the coming months, now that the Joint Venture has managed to successfully establish itself as a credible supplier to Cuba.”
US president Barack Obama is currently on a trip to Cuba - the first serving president to visit the island since 1959.
Source: (March 22, 2016) Proactive Investors
About Leni Gas Cuba
Leni Gas Cuba’s objective is to become a diversified business group by creating core business divisions to provide a diverse range of products and services primarily in Cuba or with connections in Cuba together with such other jurisdictions as the Board may determine from time to time. This may be implemented by Leni Gas Cuba through acquisitions and/or the creation of businesses organically by the Company in sectors such as tourism, accommodation, infrastructure, transport, commercial and residential property, technology, communications, manufacturing, retail, services, leisure, agricultural and natural resources however this list is not exhaustive and the Company will utilise the skills and experience of the Directors and its advisers to seek opportunities in sectors which they consider best positioned to benefit from the increased access to the Cuban economy.
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