Iraq Invites Foreign Investment for Port Development

Iraq’s Transport Minister, Abdul Hussein Abtan announces new investment opportunities at a conference at Baghdad Airport

In an effort to ease the funding shortage in Iraq, the country is planning on inviting foreign companies to invest in construction within the country under the Grant Faw Port. 

Iraq’s Transport Minister, Abdul Hussein Abtan has revealed to Almada Arabic Language newspaper during his visit to Southern Umm Qasr port that Iraq plans on announcing new investment opportunities at a conference at Baghdad Airport : “We will soon announce investment opportunities for foreign companies to execute projects in Faw Port, including the construction of new quays…we have taken this decision because of austerity measures and lack of liquidity, which has affected the execution of the Faw project.

Mr. Hussein Abtan announced contractors would be asked to take on projects with an understanding that they would be paid on a post-payment basis in which would mean the Faw Port would be fully operational and commissioned in two years. 

As one of the largest container terminals, Southern Faw Port will at one point handle 99 million tonnes and will have a 39 km container quay along with 2 km of berths, a container warehouse and hinterland which will cover one million square metres. 

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