Charista Global Corp.(CHRG-Pink Sheet) announced today it has entered into an agreement with Prince Alexander Sefre, an Architect and Member of the Royal Institute of British Architects, to launch our HILA (High Intensity Liquefied Admixture) product in Saudi Arabia and Russia.
Prince Alexander, who is an Architect and Member of the Royal Institute of British Architects, was approached in August 2009 by Charista Global, a US-based company, to launch their product HILA into Russia and Saudi Arabia.
The contract between the parties was signed at the end of August 2009 and two million restricted shares of the company were subsequently offered to Prince Alexander. Since then Prince Alexander has been in discussions with both the Russian and Saudi Arabian authorities.
Prince Alexander has signed a contract in Riyadh with Her Royal Highness Princess Al Gawahara Bint Fahad Bin Saad Bin Saud Bin Abdulaziz Saud for close collaboration on major construction projects in Saudi Arabia. He is also in discussion with the Ministry of Transportation for the Kingdom.
Prince Alexander has now early this month through his representative office in Saudi Arabia been successful in presenting HILA to Prince Fahd bin Sultan bin Abdulaziz, the Governor of Tabouk Region.
Tabouk city has the second largest military airbase in the world. The discussions on HILA are continuing and Prince Alexander is due to travel to Saudi Arabia to sign a JV partnership on behalf of Charista Global with the Saudi authorities. A test is planned to build a 2000 Metre runway suitable to land a Boeing 747. This major test using the HILA product seeks to change the face of construction in Saudi Arabia by reducing cement input by 90% as well as changing sand to stone, thus enabling road construction to become more effective at a lower cost. Princes Alexander is intending to issue shares for the JV Company to be created in Saudi Arabia and the IPO is to follow in the Saudi stock market by 2nd January 2010.
Estimated construction costs in Saudi Arabia and the Persian Gulf region from Bahrain to Oman and Yemen using HILLA may exceed 750 B USD over the next 10 years, which is a clear indication of the rising share value potential.
Prince Alexander is also in close discussion with the authorities in Russia for the launch of HILA in the Russian and CIS countries. A major road construction project at federal level in Russia is underway to connect Moscow to Beijing through Kazan the capital of Tatarstan.
The same principle to launch HILA as in Saudi Arabia is underway also in Russia and shares are to be issued for the JV partnership.
Prince Alexander is currently in discussion also with the major Russian contractors, involved with the Olympic village of Sochi in Russia.
Estimated construction costs in Russia and CIS countries are four times higher than the middle east over the next 10 years.