The US consultancy firm Oliver Wyman will advise Iraq on options to fund the Development Road project involving the construction of a 1,200-km rail and a parallel motorway as part of a contract it was officially awarded in April, an Iraqi official has said.

The company will provide financial advice to the government, promote the $17 billion multi-modal project internationally and work with global investors, said Younus Al-Kaabi, Director of the General Company for Ports in Iraq, a subsidiary of the Transport Ministry.

“Consultancy services to be provided by this company will be for 9 months,” Kaabi told the official Iraqi News Agency on Monday.

According to the Transport Ministry, the rail line and motorway will link Faw Port under construction in South Iraq with Europe through Turkey.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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