The Company is owned by members of the prominent Al Khawam family of Iraq with Mr. Hatam Al Khawam and Mr. Ali Al Khawam (the “Sponsors”) each owning 50% share. The Sponsors are well-respected and known members of Al Khawam family with over 20 years track-record of building successful businesses in Iraq and Jordan.

The Project cost is estimated at US$220 million and will be financed through a combination of Sponsors equity and debt financing. IFC is proposed to arrange a financing package of up to US$130 million comprising of an (i) IFC A loan of up to $65 million and (ii) a mobilization tranche of up to $65 million.

The Project is located in the city of Samawa in the Southern Iraqi province of Muthanna.

No risks have been identified.

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability. Based on information reviewed by IFC, the proposed Project will have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed thorough existing mitigation measures and good international industry practices (GIIP).

Key E&S issues associated with the Project include: (i) the Company’s E&S management and monitoring systems to assess and manage E&S risks and impacts; (ii) management of labor & working conditions including occupational health and safety (OHS) at the plant and quarry sites, and management of the influx of workers; (iii) monitoring and management of air emissions, solid waste and hazardous materials; (iv) traffic & road safety management; (v) emergency planning and response; (vii) security; (viii) management of quarry site impacts on Key Biodiversity Areas and associated priority biodiversity features.