Daewoo retracts from completing Faw Port … this is what it demands in exchange for its continuation

Daewoo retracts from completing Faw Port … this is what it demands in exchange for its continuation

2020-11-05

Daewoo retracts from completing Faw Port ... this is what it demands in exchange for its continuationOn Thursday, the Ministry of Transport announced that the Korean company, Daewoo, had retreated from completing the construction of the Al-Faw port project, indicating that the company had requested additional sums and an extension of the contract period.

“The Daewoo company has withdrawn its initial agreement to complete the Faw port project, which was designed by the Italian consultant,” ministry spokesman Faleh Hadi said in a press interview, indicating that “the company requested additional sums and an extension of the contract period to continue the project.”

He added, “The Minister of Transport rejected the company’s demands and demanded that it abide by the contract that was signed with the ministry with a contract of 3.5 years and digging the port with a depth of more than 19.8 meters.”

Hadi pointed out that “the company started negotiations with the ministry after it retreated from its position,” stressing that “the Minister of Transport will visit today, with Prime Minister Al-Kazemi, the port of Faw to see the latest developments regarding the construction of the port within the first phase according to the specified period.”

burathanews.com