Iraq plans to choose operator for Al-Faw Port in Q1 2024
Iraq has set to finalize the selection of an international operator for its Al-Faw Port during the first quarter of 2024. The decision comes in the wake of the submission of proposals by various foreign businesses, as confirmed by Maytham Al-Safi, the spokesperson for the Iraqi Transport Ministry.
The Ministry is rigorously evaluating these proposals, laying emphasis on stringent requirements to ensure the efficient operation of one of the world’s largest container terminals.
Maytham Al-Safi emphasized the keen competition among foreign businesses vying for this lucrative opportunity. “A number of foreign businesses are vying for this deal… We have made the decision to select the winning bidder within the first quarter of this year,” Safi stated, highlighting the imminent decision-making process. This move underscores the government’s commitment to a transparent and competitive selection process.
The Al-Faw Port, with an estimated cost of $2.7 billion, is a critical infrastructure project situated in southern Iraq. This port is poised to play a pivotal role in linking the East and West through facilitating international container traffic. The Iraqi Transport Ministry has set ambitious timelines, aiming to complete the construction of this monumental port by the end of 2027. The successful selection of an experienced international operator is anticipated to contribute significantly to the seamless functioning and success of this ambitious project.
As Iraq progresses towards this crucial decision, the international community keenly awaits the unveiling of the chosen operator, recognizing the strategic importance of Al-Faw Port in fostering global trade connectivity and bolstering Iraq’s economic prospects.
