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Iraq is holding talks with foreign firms for the management and operation of the Al Faw Grand Port after it is completed by the South Korea's Daewoo Engineering & Construction, Prime Minister Mohammed Al-Sudani was reported on Monday as saying.
Quoted by Aliqtisad News and other Iraqi publications, Sudani said the 2023 state budget includes additional allocations for the project in South Iraq.
He said the project is progressing and would be completed on time after a delay of many years due to political turmoil, internal conflicts and cash shortages.
“We are now holding talks through the Transport Ministry with friendly countries and international companies…we hope we will reach agreement with some of them for the management and operation of this strategic project,” he added.
Sudani also said Iraq is trying to reach an agreement with neighboring Turkey over the “dry canal” project which will link Faw with Turkish ports and Europe.
Faw Grand Port, launched in 2010, is one of the world’s largest container terminals with a capacity to handle 99 million tonnes annually.
In December 2020, Reuters reported that Iraq signed a $2.625 billion deal with Daewoo Engineering & Construction to build the first phase of Faw port.
Read more:
Iraq approves 2-year funds for Faw port project
Iraq starts construction of Al Faw Grand Port project
(Writing by Nadim Kawach; Editing by Anoop Menon)
