Ekko Limited

Zentraquip AG (ZEN), a Swiss company wholly owned by Barlow Rand Ltd. of South Africa, has sought MIGA coverage for its equity and loan investment to establish an equipment dealership in Sofia, Bulgaria. ZEN will set up a wholly owned subsidiary, Ekko Ltd. MIGA coverage for $648,000 has been extended against the risks of currency transfer, expropriation and war and civil disturbance.

The project enterprise is a dealership that will sell and service heavy industrial equipment, such as tractors, compactors, excavators, and motor graders.

The project will stimulate development of Bulgaria's infrastructure by providing heavy equipment and related services for application in sectors such as construction, housing, mining, and agribusiness. Ekko Ltd. will employ 17 Bulgarian nationals, and ZEN will provide managerial, technical, and service skills training. The project enterprise will generate more than $800,000 in average annual tax revenues for the Bulgarian government in its first five years of operation.