Turkey has formed a four-nation council with Hungary, Bulgaria, and Serbia to facilitate the integration of Iraq’s $17 billion Development Road multimodal project into Europe, Iraq's Minister of Transport Razzaq Muhibis Muhibis confirmed in a statement to the Iraqi News Agency (INA).

This council complements an existing partnership constituted for the project involving Iraq, Turkey, Qatar, and the UAE, he said, adding that OPEC member remains open to any country wishing to join the initiative.

The Development Road will stretch from Al Faw Port, under construction in South Iraq, to the country's border with Turkey, providing a transit route to Europe.

Muhibis said five berths have been completed at Al Faw Port while related infrastructure projects are 75 percent complete. He said initial designs for the railway segment are complete, with final designs now underway. The initial highway design is 84 percent finished, and feasibility studies and soil testing have been completed over more than 1,000 kilometres.

Transport ministers from Iraq, Turkey, Qatar, and the UAE met in Baghdad last week to coordinate governance and long-term work plan to drive the Development Road project forward.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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