Finland and Sudan sign agreement to produce sports wear and equipment
15 October, 2010
Khartoum, October (Sudanow)- Sudan and Finland have signed an agreement to establish the first sports wear and equipment in Khartoum, with a starting capital of 5 million us dollars, with the Sudanese Ministry of Youth and sports paying 30% of the capital against 70% for the Helsinki based, Fenno Caledonian Holdings (LTD).
The Director of the Sudanese Youth Sports Supporting Fund Dr Usama Sidahamed, in the presence of the Federal Minister for Youth and Sports, Ustaz. Hajj Magid Swar signed for the Sudanese side while Madam Sato Harki, member of the Board of Director and the General Manager of the Fenno Caledonian Holdings (LTD), signed for the Finish side in Khartoum.
The Federal Minister, Swar, has told the signing ceremony that Sudan appreciated the cooperation between the company and the Sudan which culminated three decades of cooperation between the Sudanese people and their Finish counterpart, stressing the importance of such a project for the country which lacks such an enterprise.
Ms Harki, the Manager of the Helsinki-based company, with offices in Khartoum, Sudan, and in Aberdeen, UK, promised on her part that the company would send Sudanese trainers to receive advance training in the various sports field and showed full willingness to cooperate wit the Sudan on the various domains. She also invited the Sudanese Minister for Youth and Sports to visit her country and meet his Finish counterpart to discuss cooperation in the sports and youth domain, yet further.
The company, a holding company, known as Fenno Caledonain Holdings, the Only Finnish Owned Upstream Oil & Gas Company, has been in existence as Fenno Caledonain since February 2007 albeit its cumulative experience in Oil and Gas of almost 100 years.
The company, in June 2010 was farmed to Block 14, Sudan, which is described as a very large area about the size of UK. The company believes that there are 4 sedimentary basins.
The Director of the Fund Dr Usama said the project would meet Sudanese needs in sports equipment and cover the needs of Khartoum's neighbours. The project would be implemented as of coming January, and six years after inauguration the factory is to be fully owned by the Ministry of Youth and Sports.
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