Iraq selects 11 companies to compete for Faw Grand Port operation contract
Iraq selects 11 companies to compete for Faw Grand Port operation contract
2024-11-12 08:00
Shafaq News/ The Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, revealed today, Tuesday, that a shortlist of 11 shipping companies has been drawn up to compete for the contract to operate the Grand Faw Port.
A decision on the winners is expected in January 2025, Reuters reported.
The shortlist includes prominent companies such as China Merchants Port Group, Taiwanese container shipping company Evergreen, French container and freight company CMA-CGM, Mediterranean Shipping Company (MSC), India’s Adani, International Container Terminal Services (based in the Philippines), China’s COSCO, and the UAE’s Global Shipping, Al-Fartousi said.
The port is one of the most prominent economic projects that will contribute to supporting the Iraqi economy, as it is expected to provide 150,000 job opportunities.
Last Saturday, November 8, the five berths of the first phase of the project were delivered, with 100% of them completed. These berths are part of the wider project that also includes the navigation channel, the container yard, and the submerged tunnel.
Iraqi Prime Minister Mohammed Shia al-Sudani described the port as a project of the “Iraqi people,” while the Minister of Transport stressed the importance of the port as a pillar of economic growth in Iraq and the region.
The project is expected to generate huge revenues and enhance economic diversification away from oil dependence. The port is also expected to contribute to enhancing trade between Iraq, Asia and Europe, and reflects an important transformation in Iraqi infrastructure.
The project is receiving international attention, as delegations from Turkey and other countries have visited it to see its developments. The first phase of the port is expected to open at the end of 2025, with five of the 99 berths set to begin operation.
shafaq.com
