Silverline Technologies to own 51% of Oman JV

Silverline Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on February 08, 2007, inter alia, has resolved the following:-

- Setting Up of a joint venture with Sultanate of Oman for the purpose of setting up IT / ITES / Animation, IT Education and Training Services.

- The proposed JV will be 51% owned by the Company and 49% owned by Omani Partners and Local Oman Institutions.

- The JV will have investments to the tune of USD 10 M, the project will be made operation by Third Quarter of 2007.

- All the infrastructure requirements of the proposed JV will be borne by Omani Partners.

Source : Equity Bulls

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