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| ROI to Construct Apartments and Townhouses near Proposed LNG Facility in British Columbia |
QUEBEC CITY, Quebec, May 27, 2015 - (ACN Newswire) - ROI Land Investments Ltd. (OTCQB: ROII) ("ROI" or the "Company"), a diversified real estate land development investment company, and LNG Canada Development Inc. ("LNG Canada"), have entered into an agreement for ROI to develop housing in Kitimat, British Columbia. Of the 93 units being developed, LNG Canada will lease 35 units, which include a mix of apartments and townhouses, to house some of its employees required to support the proposed liquefied natural gas project.
"We are excited to partner with LNG Canada as it seeks to bring the liquefied natural gas industry and its economic benefits to the people and communities of the North Coast of British Columbia," said Philippe Germain, President of ROI. "Our housing development project will not only support LNG Canada, but also help meet the growing demand for quality housing in the region."
"We heard very clearly from the local community how important it is that LNG Canada considers potential impacts to housing availability as a result of our proposed project," said Andy Calitz, CEO of LNG Canada. "Our partnership with ROI allows LNG Canada to secure much needed housing for employees, and reflects our commitment to listen to, and act on feedback from our stakeholders, when possible."
The five-year agreement calls for ROI to construct housing for some of LNG Canada's employees in a phased approach. LNG Canada has committed to the five-year lease, regardless of a positive financial investment decision by the joint venture participants behind the proposed project. In the first phase of the housing project, ROI is expected to build 35 apartments and nine townhouses in Kitimat, and is projected to be completed by May 31, 2016. As part of the agreement with LNG Canada, ROI will seek to hire local people and businesses, provided the candidates are competitive and meet operational and safety requirements.
If the LNG Canada project moves forward, it will bolster the economy in British Columbia. Estimates call for the LNG Canada project to employ an average of 4,500 people during the first phase of construction, with a potential peak workforce of 7,500 people. It is expected that 300 to 400 people would be employed during first-phase operations, increasing to between 450 and 800 should the full project (four trains) be built. Local businesses are also expected to benefit from the project.
About ROI Land Investments Ltd.
ROI Land Investments, Ltd. ("ROI") is a diversified real estate investment company specializing in land development. ROI's business model consists of acquiring attractive land developments free of zoning restrictions, obtaining the necessary development permits, outsourcing the development of the infrastructure and profiting from the sale of the subdivided land units to known large regional developers.
About LNG Canada Development Inc.
LNG Canada is a joint venture company comprised of Shell Canada Energy (50%), an affiliate of Royal Dutch Shell plc, and affiliates of PetroChina (20%), Korea Gas Corporation (15%) and Mitsubishi Corporation (15%). The joint venture is proposing to build an LNG export facility in Kitimat that initially consists of two LNG processing units referred to as "trains," with an option to expand the project in the future to four trains.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company's statements and reports filed with the US Securities & Exchange Commission. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information please visit our website: www.ROILandInvestments.com
Contacts for ROI Land Investments:
Philippe Germain, President
T: +1-514-667-9470
M: +1-418-264-7134
Email: PGermain@ROILandInvestments.com
KCSA Strategic Communications
Jeffrey Goldberger / Brad Nelson
Tel: +1-212-896-1249 / +1-212-896-1217
jgoldberger@kcsa.com / bnelson@kcsa.com
LNG Canada Media Relations:
media@lngcanada.ca
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ROI Land Investments LTD via Globenewswire
Topic: Press release summary
Source: ROI Land Investments Ltd.
https://www.acnnewswire.com
From the Asia Corporate News Network
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