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OFIC agreement with Erbil-based Nasri
Group
8.11.2006
Kurdistan Business News |
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Public Iraqi Investment
Company, OFIC, Strikes Advisory Agreement With the
Nasri Group, Covering a Portfolio of $2.5 Billion
Nasri Group Operates in 46 Countries, Employs
5,000
AMMAN, Jordan, November 8, -- Omar Finance
and Investment Company (OFIC), a public Iraqi
company, today announced that it has entered into a
strategic advisory agreement with the Erbil-based
Nasri Group in Kurdistan Region (Iraq) to reorganize
and fund the financial aspects of the Nasri Group's
current business requirements in Iraq and its future
initiatives.
Walid Al-Omar, chairman of OFIC, and Nizar Hanna
Nasri, chairman of the Nasri Group, signed the
agreement on July 6, 2006 on behalf of their
respective companies.
The Nasri Group's (http://www.ngcompanies.com)
diverse holdings are spread across the globe and
throughout Iraq, extending from Dhouk in
Kurdistan Region to Iraqi Basra. The Nasri Group is
primarily engaged in the development of new and
existing 4- and 5-star hotels (Sheraton Hotels under
negotiations), the manufacture of construction
materials, soft drink production plants (Pepsi
Cola), cigarette manufacturing and distribution,
banking, trading, city center developments and
residential complexes - among other projects.
For example, the Nasri Group is developing the
Sheikhala project, a substantial Erbil commercial
city center similar to the Solidere developed by
Hariri in Beirut, a Pepsi Cola bottling plant -
under license - in Kurdistan, and Dream City in the
capital of Kurdistan Region of Erbil city - a
4,000-unit residential complex.
The Nasri Group also has development plans in place
in the petroleum, cement, transportation and
shipping industries.
OFIC has begun setting up offices in Erbil and
establishing the required public companies in Iraq,
as well as approaching banks and its strategic
investment partners.
About The Nasri Group
The
Nasri Group is a family owned Iraqi corporation
that has shown consistent growth and profitability
in its relatively short life. The corporation began
its operations in Iraq in 1986 as construction and
trade business through all the Iraqi territory.
NGC's core business includes establishing a strong
footprint in Iraq by securing real estate,
manufacturing and distribution opportunities and
providing jobs and security for the Iraqi people
from
its Baghdad headquarters.
The Nasri Group's success is attributed to the
initiative, drive and qualitative judgment of its
visionary board of directors, as well as the
professionalism and dedication of its 5,000
employees.
About Omar Finance and Investment Company (OFIC)
OFIC invests in and counsels Iraqi and multinational
companies that have established records of success
in their
respective markets and demonstrate strong growth
potential in Iraq and beyond.
Contact:
Haitham Jalil, Omar Finance and Investment Company (OFIC),
Mobile: 00962795962138,
haitham.jalil@ofic-iraq.net, http://www.ofic-iraq.net
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