SAHNON CONSTRACTING CO. LTD

SAHNON CONTRACTING CO. LTD: The tires factory capacity is 5 million/units per year initially. This project is going to be the first of its kind in the region (Gulf Cooperation Council). The Saudi Arabia alone is importing an overage of 18 million-20 million/year. The government is fully dedicated to support this project since it belongs to Saudi Arabia development plan “vision 2030”. The initial licenses have been issued; the land is granted by the government (for 25 years + renewals) at a very attractive price (1.2 million USD/year). The Saudi Industrial Development Fund (SIDF) is ready to provide extra funding for the project, if needed, at 0% interest rate after the commencement of the project. The government is willing to purshase around 70% of the project’s outputs. To raise the project, we intend to purchase an SBLC/BG from Point Bank (IIB as asset manager). We can pay 150K USD (Bank statement attached). We are also seeking IIB technical and financial support. We are able to offer IIB 5% Shareholding in the project.