Sama Al Manar for General Trading is a partnership between Tiryaki Agro (54%), Fatih Tiryakioglu, a shareholder in Tiryaki Agro (1%), and Hussein Al-Khazraji (45%), an Iraqi national, with experience in agriculture grain trading in Iraq.

  IFC is considering an A-loan of up to US$66 million for its own account. IFC is also syndicating a B-loan of up to US$31.5 million and a parallel loan of up to US$15 million. The financing package is divided into two tranches: The first tranche of US$45 million, with an 8-year tenor, to be used to fund the capex requirements. The second tranche of US$67.5 million to be used to fund permanent working capital needs, through a 5-year annually revolving facility.

The total project cost to develop the agro-industrial complex is US$205.5 million. The remaining project cost will be financed from internally generated cashflow, at the project company level, in addition to sponsor equity.  

The project is located in the backyard of Berth 4 of the Umm Qasr Port in Basra in the South of Iraq. The project site covers an area of approximately 171,000 m2. 

This is a Category B project according to IFC's 2012 Environment and Social Sustainability Policy. The proposed project will have limited adverse E&S risks and/or impacts that are site-specific, reversible, and addressed through existing mitigation measures and good international industry practices (GIIPs). Key E&S risks and issues are (i) corporate and company-level ESMS to manage risks and impacts during construction and operations of the soybean crushing plant and warehouses, including contractor E&S management and safe working conditions; (ii) assurance of fair and safe labor and working conditions aligned with PS2 objectives; (iii) process/equipment safety plans, including assessment of explosion risks, HAZOP / Quantitative Risk Assessment (QRA); (iv) resource efficiency; (v) effluent treatment, solid and hazardous waste, noise and air emissions; (vi) emergency preparedness and response plan, including life and fire safety; (vii) stakeholder engagement and  community grievance mechanism; (viii) security issues; and (ix) traceability and risk screening of soybean/corn sourcing, including due diligence of third-party suppliers.