A collaboration agreement is reached between Mostazafan Foundation and the Iraqi Government following the visit of the Head of the Mostazafan Foundation, Mohammad Saidikia, to Iraq on invitation from the Iraqi Minister of Housing, Building and Urban Services, Dr. Ann Nafi Aussei.
“In the housing sector, the Iraqi Ministry of Housing, Building and Urban Services is to provide land and appropriate licenses in Karbala and Najaf as well as infrastructure services such as water, power and telephone services to the companies under the Mostazafan Foundation. In return, Iranian companies will carry out the project in different phases”, said Mr Saidikia.
In his visit, Mr Saidikia met with the Iraqi Minister of Labor and Social Affairs, Mohammed Shia alSudani, and announced plans for cooperation in sectors relating to the construction industry and foodstuffs as well as rebuilding of production units and old factories and renovating production lines by companies under the Mostazafan Foundation.
The Mostazafan Foundation was established in 1980 as a public institution on the order of Ayatolah Khomeini. The Foundation is neither private nor governmental and therefore the Government cannot interfere with its affairs. The Foundation only answers to the Supreme Leader of Iran. Upon establishing, the Mostazafan Foundation was in charge of 800 companies which it had gained control of via confiscation. Later some of the companies were either shut down or sold. Currently, the Mostazafan Foundation owns close to 150 companies.
Among them are Sina Bank, Sina Energy Development Co., Saba Electricity and Energy Holding, Tehran-Shomal Freeway Company, Cultural Institute of Bonyad Museums, etc. The Foundation had nearly 40,000 employees as in 2015.
