SAK Commodities announced the confirmation of its first support contract with Iraq’s Ministry of Trade. SAK spokesman Amar Mahdi said that "Three months of continued negotiations have closed with the SAK receiving final approval from the Ministry of Trade’s - State Trading Company for Construction Materials. We are pleased that the Ministry has invested such trust and confidence in our company and we look forward to working with the Ministry and serving the citizens of Iraq."
SAK Project Director Larry Sowell stressed in his negotiations with Abdul Massan Amber Al Rakabi, General Manager for the State Trading Company for Construction Materials, the importance of SAK’s corporate philosophy. Part of SAK’s corporate philosophy is to assist countries with emerging markets in developing and implementing programs to provide goods and services to their citizens at internationally accepted market prices and to avoid the excessive profit taking that can occur in post war reconstruction.
SAK is initially scheduled to deliver 50,000 metric tons of 42.5 Ordinary Portland Cement and an additional 50,000 metric tons of 52.5 Sulphur Resistant Cement every month for a period of two years. This initial quantity will increase up to 400,000 metric tons a month as needed by the Ministry of Trade and other Ministries whose construction projects are supported by the Ministry’s State Trading Company for Construction Materials. This cement will be distributed throughout all of Iraq’s 18 provinces and marketed at competitive rates. Several Ministries have already expressed interest in purchasing SAK cement through the Ministry of Trade and two have made direct contact to SAK representatives.