The Iraqi Council of Ministers has authorised the Ministry of Transport to contract with US-based Oliver Wyman for consultancy services related to the Development Road project.

The Cabinet also exempted the project from following the contracting procedures outlined in Regulations of Governmental Contracts Implementation No. 2 of 2014.

The approvals also include:

· Exempting the project from certain requirements or conditions if it is classified or designated as an investment project

· The investing company bears all the consultancy contract fees to be paid by the Ministry of Transport.

· Granting the Director-General of the General Company for Iraqi Railways the authority to sign the contract.

Read more: Development Road: Iraq, Turkey, Qatar and UAE sign MoU for $17bln mega project

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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