Development

MAACO Group’s engineering designs office has been successfully completed the initial designs of constructing 3000 housing units for municipality and local government employees of Basra province; the project is located in a fantastic area in the city of Basra.

We keep meeting with the concerned authorities for this project in order to conclude the final agreements that will adopt the ways of payment facilitator of the staff through convenient installments for them to pay the value of housing units which will be belongs for them.

Cooperation

On 24/10/2010, delegates from MAACO Group comprising Mr. Ali Tariq AL-Ameen (MAACO Projects Manager) accompanied with a delegates from the Egyptian Company Petrojet to visit the city of Basra for the opening of Petrojet company branch in Iraq.

As well as follow-up the project phases on the Egyptian Oil Group site that located in North Rumaila.

The companies’ delegates had held many meetings with the authorities in Basra province to study the aspects of joint cooperation with the Iraqi oil sector, note that MAACO Group has a strong relationships and cooperation with Petrojet company, in order to engage in various joints of the petroleum industry in Iraq, which is the most active sector for the time being due to start work on developing the Iraqi oil fields.

Professionalism

Delegates from MAACO Group comprising a number of our company’s engineers are preparing to visit ABI Industries – Germany (manufacturer of Piles Drilling and Driving Machines) for the purpose of engaging in training courses on the operation and maintenance of all types of machines, note that MAACO Group and ABI Company-Germany have signed a contract with the Iraqi Ministry of Transportation for manufacturing and processing four Piles Drilling and Driving Machines which hopefully will be completed later this year.

As well as there will be eight engineers from the State Company for Implementation of Transport and Communication Projects (SCITAC) to participate in the training course which will start on 17 Nov., 2010 – 07 Dec., 2010

Expansions

The groups began the implementation of its vision of expanding and diversifying its activities and capacities world wide and employ these capacities to serve its future projects in and outside Iraq. Based on that vision, the management board decided to establish a new company in the Republic of Czech under name of (MAACO Europe Investment Limited),

which will be located in the capital of Czech (Prague). It will be one of Mr. Mohammad AL-Madani Group of Companies (MAACO Group) and engage in different business activities of investment and trade in various sectors that is relevant to MAACO Group.

The group is currently work in order to complete the legal procedures for establishing the company in late 2010 to start its work early in 2011, and we hope that the company will be a new tributary to the group and an open window between Iraq and European countries and the world.

Deals

Mr. Hashim AL-Madani (Group Marketing Manager) is currently in a business trips to a number of European countries to conclude a number of cooperation agreements with well-known European companies in order to strengthen the capacity of the Group’s major projects which the company intends to embrace in Iraq. The trip included a visit to Germany, Denmark, France, and Spain.