A $17-billion mega rail project planned by Iraq towards Turkey includes the construction of 11 industry zones, an official has said.

The multi-modal project, dubbed “The Development Road” also comprises plans to link the 1,200-km rail line with domestic rail networks in 10 Iraqi governorates for internal passenger transport services, said Yunus Al-Kaabi, Director of the General Company for Rail in Iraq, a subsidiary of the Transport Ministry.

Kaabi told the official Iraqi News Agency on Saturday that the Company aims to transport at least 13 million passengers per year via the project in addition to freight services inside Iraq and to Europe via Turkey.

“The government has plans to set up large projects as part of the Development Road…they include 11 industry zones and other major investments…this means that the Development Road could generate as much revenues as oil earnings,” he said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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