Kallo Inc. (KALO)

[lloydm]

The Government of India provided the financing for the project. I am 100% sure there was a provision for HITES to be project mangers in order to get the funding. This is what government with money do, and I am sure Guinea and Kallo had no choice.
Either way I look at this as a good thing for Kallo Shareholders.

HLL Infra Tech Services Limited (HITES), the fully-owned subsidiary of public sector HLL Lifecare Ltd (HLL), has secured its first global contract to offer consultancy services for the construction of two hospitals in the Republic of Guinea.

HITES has signed a contract with Guinea's Ministry of Health with the objective of strengthening the western African nation's health system under the line of credit funding extended by India.

http://www.lifecarehll.com/
HLL is a Mini Ratna, upgraded as a Schedule B Central Public Sector Enterprise. The company received the Prime Minister Award for being the best public sector enterprise in India.

OFFICIAL DIRECTORS

1. Smt. Vijaya Srivastava
Additional Secretary & FA
Govt. of India
Ministry of Health & Family Welfare
Nirman Bhavan, New Delhi

2. Smt Dharitri Panda,
Joint Secretary
Govt. of India
Ministry of Health & Family Welfare
Nirman Bhavan, New Delhi