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Abu Dhabi’s AD Ports Group has signed a preliminary agreement with the General Company of Iraqi Ports (GCPI) to establish a joint venture to develop Alfaw Grand Port and its economic zone. The agreement also includes the possibility of investing in, managing and operating ports, economic zones and related infrastructure in other Iraqi cities.
The Grand Four Port project, which has been in planning since 2010, is expected to be completed by the end of next year after significant delays. The port, which has the world’s longest breakwater (pictured), is located at the northern end of the Persian Gulf near Basra and will be one of the largest ports in the Middle East when it eventually opens, handling containers, dry bulk and cargo. It is expected to be. tanker.
Farhan Muhesen Al Fartosi, Director General of GCPI, said: “By leveraging the strategic location of the port, which connects commercial routes between East and West, we can open up new opportunities for trade, investment and economic growth and strengthen our country. It will contribute to the prosperity of the country.” ”
Iraq’s Minister of Transport Razak Muhaibas Al-Saadawi said: “Combined with the Development Road Project, Iraq’s most prominent economic and logistics development, this project will strengthen maritime and freight transport between Asia and Europe. It will become.”
Earlier this year, Turkey and Iraq announced a major 1,200 km (1,200 km), $17 billion road and rail link project linking the Grand Fau port in southern Iraq with the Turkish border, bypassing the Suez Canal, and extending into Europe. (see map below).
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