Saracen retains a diverse selection of strategic projects across both Eastern and Western markets, including a number of private equity and venture capital investments, which are active in Europe, the USA and the Far East. These range from conservative mutual funds, to direct investments in distressed assets in the USA. The Group has also built expertise in historical assets and technology sectors, particularly the former,
where Saracen has an 18-year track record of association in the market and with major specialists therein, encompassing the USA, Germany, the UK and Japan. The Group also has a strategic relationship with a major Bermuda-based investment firm in addition to its US affiliated companies, which offers a window into the American market. The Group has recently undertaken investment in the renewable energy sector, conferencing, media and classic cars.
Projects in Iraq
Saracen has built up a significant presence in Iraq over the past 13 years, across a wide variety of sectors and industries. This is part of the company's long term objective in helping to facilitate the rebuilding of key infrastructure projects across the Republic of Iraq.
These areas of activity include but are not exclusive to:
Through an existing subsidiary, the Group has established a joint venture (JV) agreement with a major Oil Transport owner-operator and subsequently, a further agreement with the Iraq Oil Tanker Company (IOTC) for the Maritime transport of Crude and Oil Products.
The group has established a joint venture with a major national Chinese company, part of which specialises in Power. The joint venture has successfully tendered for a 1,400Mw Power Plant on the outskirts of Baghdad and five phases of a double cable power grid extending 600Km. The process is one where each party plays a role in the design, finance and construction of these facilities. It is anticipated that work will commence in 2021.
Saracen has been instrumental in the supply of water, pumping and transport assets, and has recently completed a Siphon water Purification Project in Basra.
The Group has established a JV agreement with a major conglomerate to facilitate the joint offering of technical and construction services to meet the requirements for major sewage and infrastructure work in the Basra Province.