Dubai: Despite some financing concerns Iraq has committed to build one of the largest ports in the Middle East over the next 10 years. To be located to the south of Basra, the Grand Faw project will include oil terminals as well as some container facilities.
A breakwater is already under construction while dredging is set to get underway shortly. The whole port project is estimated to cost more than $6bn.
Iraq’s ministry of transport has just issued a letter seeking tenders from interested parties around the world to build and operate the port.
The port has been on the drawing board for a number of years. With just a slither of coastline, and oil exports soaring high, the country desperately needs more coastal infrastructure.