According to Mr Kinoti, the mandarins claimed that CMC di Ravenna, another Italian firm contracted to build the Sh63 billion dams, bulldozed its way against Kenyan laws to have the insurance component of the two dams awarded to SACE
. They (Treasury) have told us that CMC di Ravenna insisted that the insurance be handled by SACE
," Mr Kinoti said.
The minister praised the initiatives of international companies operating from Bahrain or wishing to work in Bahrain, pointing out the importance of SACE
as one of the major international companies in providing consultative services.
Further, Sh545.9 million was paid to the arrangers of the loan facility from SACE
, while Sh359.5 million was paid out as a commitment fee for the lender to ring-fence the loan.
The statement noted that SACE
's portfolio in Egypt is worth e1/4 1.6bn, adding that SACE
looks forward to inaugurating an office in Egypt in order to be a regional office covering the Middle East's countries.
The revision of the Outlook on the class A1 notes reflects the Negative Outlook on SACE
S.p.A., the Italian export credit agency owned by the Italian government, which guarantees the class A1 notes.
Furthermore, ECI and Sace
have agreed to create a dedicated task force and collaborate on seven work areas: insurance, reinsurance and collections initiatives; information sharing; technical training programmes; halal industry and Shariah-compliant insurance and finance solutions; trade promotions (B2B events and workshops); investments; and SME programmes.
Despite numerous attempts to kill the complaint over multiple years, SACE
's contention--that potentially dangerous carcinogenic chemicals, including heptachlor and tetrachloroethylene, could possibly leak into drinking water--stood.
Sabino, who suffered multiple gunshot wounds in the body, was declared dead on arrival while Sace
is currently under observation after suffering a lone gunshot wound in the waist.
Valdez Lisbi from Automotive Trains Unit of SACE
said that they can provide financial services/assistance and bank guarantee on behalf of the Italian companies.
During the Italian Government's business mission to Iran, SACE
signed three collaboration agreements with the major Iranian private banks - Bank Pasargad, Bank Parsian and Saman Bank - aimed at facilitating a more rapid and effective resumption of trade and investments in the Country, once the implementation day has been reached.
Meanwhile, Abu Dhabi Ports, the master developer, operator and manager of ports and industrial zones in the Abu Dhabi emirate of the UAE, has signed an MoU with SACE
, the Italian Export Credit company, for enhancing business relations between both sides.
The last chapter provides guidelines for putting together a micromachining facility based on electrochemical discharges and setting up spark-assisted chemical engraving (SACE