SAK secures funding to contract projects in Iraq
SAK announced that it has secured funding to contract projects with Iraq’s Ministry of Trade. SAK will concentrate on providing food and construction materials, as these are viewed as the most immediate needs to improve the quality life of the average Iraqi citizen. SAK hopes to sign its first contract with MoT this week, to bring in much needed supplies of sugar the Iraqi people the Ministry supports.
SAK commodities has been granted by its Swiss, American, and Saudi partners 100 million dollars in initial funding for use in the procurement of foodstuffs, and construction supplies to help the citizens’ of Iraq. Currently under advisement by the Minister of Trade is a contract for 100,000 metric tons of sugar, with an additional 400,000 metric tons contracted and available for subsequent request as needed by the Ministry over the next twelve months. In addition to the Sugar, SAK has negotiated the first Direct Marketing Contract in Iraq with the Company for Construction Materials to import American Quality cement in quantities up to three million metric tons over the next two years with larger quantities are available upon request.
Initially, SAK is focusing on the following contracts: sugar, milk, tea, rice, wheat, sunflower oil, hand soap, and laundry detergent in direct support of the Ministry of Trades’ Food Subsidy Program in our efforts to ease the strain on that portion of the Iraqi population in the greatest need and who are at the greatest risk. The Ministry of Trade exerts great efforts to supply the population with quality subsidized food products; we at SAK are committed to support the Ministry of Trade in this vital mission.
SAK have observed real change on the ground in Iraq and to support this continued effort SAK will enter into Direct and Marketing Contracts for cement, steel, lumber, ductile pipe and other construction materials needed by the Ministry of Trade. SAK expects that within 30 to 45 days of the date of signature for each contract initiated by the Ministry of Trade, SAK can begin off loading supplies of ALL these commodities, filling Ministry warehouses in Basra, Iraq.
Sanna Al Kassir in conjunction with its partners operates offices in Australia, China, Dubai, Jordan, Switzerland, Saudi Arabia and the United States and has maintained an active presence in Iraq since early 2005. “We have seen many changes over the years, the good and the bad. In spite of recent events we are encouraged by the continuing improvements and see this as the right time in which to commit our support to an ever increasing development of Iraq. This is just the initial phase in our long term investment strategy in Iraq. With the assistance of members of the Prime Minister’s Office and staff, other projects on the calendar for discussion involve manufacturing, refining as well as public and civic works projects.”