Iraq, the OPEC member, has completed around two thirds of the Grand Faw Port project, said Iraq’s Transport Minister, Razzak Al-Saadawi, on Friday.
Al-Saadawi added that the projects is set to link Iraq with Türkiye and Europe, adding the contractors are working and pushing the project further to finish it on schedule in 2025.
The project will be linked to Türkiye with a 1,200-km rail and motorway in a $17-billion project dubbed “The Development Road.”
“About 68 percent of the 5 berths in Faw has been completed after it was only 19 percent 3 years ago…we expect berth 1 to receive its first vessel soon as part of a trial operation,” he said.
South Korea’s Daewoo Company is responsible for building the berths in the Southern Faw Port in a $2.7 billion contract it was awarded four years ago.
Faw is one of the world’s largest ports, with a planned capacity of 99 million tonnes per year.
