On July 22, 2019, during a meeting in Moscow, Ekaterina Naumova, CEO of Alterra Investment and Financial Company LLC (Russia), and Basim Oleiwi Nahi Al-Dawoodi, Chairman of the Board of Al-Bayraq Universality For General Contracting Co. Ltd. (Iraq), signed a Memorandum of Understanding.

Through this document, the parties established a favorable framework for collaboration in the field of direct infrastructure investments and expressed their commitment to further developing their relationship. Future forms of cooperation may include information exchange, the development of investment concepts, the joint implementation of investment projects, and other mutually agreed areas of collaboration.

It is important to note the prominent role of Al-Bayraq Universality For General Contracting Co. Ltd. in the domestic market of Iraq. The company is a leading engineering and consulting firm in Iraq, assisting clients worldwide with the professional planning, development, design, consulting, construction, and operation of infrastructure facilities. The company has extensive experience in conducting informational and briefing sessions as part of its contractual obligations with government organizations and institutions in Iraq.

The company has been successfully operating in the Iraqi market for over 20 years. The volume of successfully executed contracts exceeds 120,000,000,000 (one hundred twenty billion) Iraqi dinars. The company has designed and constructed more than 30 facilities, including, but not limited to, roads, hospitals, airbases, engineering structures, and residential complexes.

Company website: https://albayraq-un.com/

The Company’s management is characterized by a prompt, focused, and practical approach to all its activities.

We are pleased to have laid the foundation for this interaction. We look forward to further developing our cooperation in the areas outlined in the Memorandum and to the realization of mutually beneficial and promising joint projects.