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Clare » March 27th, 2025
Iraq establishes private company to manage development road project
3/27/2025
The Higher Committee for the Development Road Project, headed by Iraqi Prime Minister Mohammed Shia al-Sudani, announced on Thursday the establishment of a private company to manage the project.
His media office said in a statement received by Shafaq News Agency that Al-Sudani chaired today the regular meeting of the Supreme Committee for Monitoring the Implementation of the Development Road Project. This is the second meeting held within a week.
The statement added that the meeting reviewed the progress of the project’s various phases and discussed the directives issued during the previous meeting. Approval was given for the Iraq Development Fund to establish a private company to manage the development road project, and for the Higher Committee to proceed with establishing the project’s special authority.
The meeting also approved the interim governance instructions regulating the relationship between Iraq and Turkey regarding the project. In this regard, the Prime Minister directed Oliver Wyman to hold a joint meeting with the Iraqi and Turkish sides to finalize these instructions.
The statement indicated that the meeting was attended by the Minister of Transport, the Director of the Prime Minister’s Office, the General Coordinator for Provincial Affairs, the Chairman of the Iraq Development Fund, the Deputy Chairman of the Parliamentary Transport Committee, a number of advisors to the Prime Minister, the Director General of Ports, and representatives from Oliver Wyman, the company providing consulting services for the project. LINK
Iraqi Ports Authority discusses operating mechanisms for the Grand Faw Port with the American company KBR.
3/26/2025
The General Company for Iraqi Ports announced on Wednesday that a meeting was held at the Ministry of Transport headquarters with representatives from the American company KBR, in the presence of representatives from the Ministry of Planning, to discuss the mechanisms for the actual transition to operating the Grand Faw Port after the completion of the project’s basic work.
Farhan Al-Fartousi, Director General of Iraqi Ports, told Shafaq News Agency, “The Grand Faw Port is going through a pivotal phase, as many preliminary works have been completed. This meeting is a strategic step to coordinate efforts between government agencies and international companies, ensuring the success of future operations.”
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Al-Fartousi pointed out that “the meeting comes within the framework of preparing for the transition to the actual operational phase of the port, relying on available international expertise and in line with the Prime Minister’s government program,” stressing that “qualifying Iraqi cadres to manage and operate the port is a key priority in the programs for contracting with international companies.”
The cost of the Faw Port is approximately 4.6 billion euros, with an estimated capacity of 99 million tons annually, making it one of the largest ports overlooking the Gulf and the tenth largest in the world. The foundation stone for this project was laid on April 5, 2010.
The Grand Faw Port issue and the delays in its completion have sparked widespread controversy in Iraq. MPs have a-----d successive governments of striking deals with neighboring countries that squandered the port’s construction in favor of those countries’ ports. The project has also experienced some delays following the mysterious s-----e of the technical director of the South Korean company Daewoo, which was implementing the Grand Faw Port project. LINK
Source: Dinar Recaps
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