South Korea’s Daewoo E&C has completed 71 percent of the five main berths it is building at the Grand Faw Port in South Iraq, an official was quoted on Tuesday as saying.

The company is pushing ahead with the Port’s infrastructure and the five berths are expected to be finished on time, said Farhan al-Fartousi, Director General of the General Company for Ports in Iraq, a subsidiary of the Transport Ministry.

“Work is progressing in the Port and nearly 71% of the five main berths have been completed,” he said during a port, according to the National Iraqi News Agency.

Daewoo E&C is executing phase 1 of the Southern Faw Port under a $2.6 billion contract it won 3 years ago. 

Officials said in June that scores of small jetties would also be constructed at the Faw Port, which will be one of the world’s largest container terminals.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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