Iraq gets a reduction in the cost of implementing Al-Faw port and demands more
Iraq gets a reduction in the cost of implementing Al-Faw port and demands more
11/11/2020 12:56
[Baghdad-Where]
The Iraqi Ministry of Transport confirmed, on Wednesday, that the Korean company Daewoo has reduced its financial demands by $ 150 million for the implementation of the Faw port.
The ministry’s spokesman, Faleh Hadi, said in an interview with Shafaq News that “the Korean company has reduced its financial demands to implement the Faw port project in Basra to build five berths with a depth of 19.8 meters, with an amount of two billion and 650 million dollars after its previous demands reached two billion and 800 million dollars.”
Hadi added, “The ministry still believes that this amount is large and that we must refer to the initial initial agreement between the two parties, which amounts to two billion and 370 million dollars.”
He added that “negotiations are continuing between the two sides to reach an agreement,” expecting to reach a result and a compromise solution that satisfies both parties.
The Iraqi Ministry of Transport announced, on November 4, that Daewoo had withdrawn its initial agreement and was demanding additional sums to complete the Faw port.
The project also witnessed some Slackening after the “suicide” of the technical director of the South Korean company for mysterious reasons.
The Grand Port of Faw is an Iraqi port in the Al-Faw Peninsula, south of Basra Governorate. The total project cost is about 4.6 billion euros and the planned capacity of the port is estimated at 99 million tons annually, to be one of the largest ports overlooking the Gulf and the tenth in the world. The foundation stone for this project was laid on April 5, 2010.
The issue of the Grand Port of Faw, and the recent delay in completing it, caused an uproar on social media, in parliamentary committees, and at the level of officials. Previous governments since 2003 have been criticized for what they called negligence and lack of seriousness in Building the port, against the background of deals with neighboring countries that resulted in the construction of the port for the benefit of the ports of neighboring countries, they said.
alliraqnews.com
