Budapest (MTI) – A Hungarian company, Gremound Ltd., on Thursday signed a 20 million dollar agreement to build cheap social housing in Africa.

The company will build rental homes applying its own technology and using a local workforce and construction material at a cost of about 100 dollars per square metre, Laszlo Farkas, the director general, said at the signing ceremony.

The partner company is Biomass Energy Ltd. based in Botswana.


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