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Fri Sep 13, 2019 11:53 am
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Transport: Faw port needs three billion dollars to see the light
Economy News _ Baghdad
The Ministry of Transport, Tuesday, that the completion rate in the project of the port of Faw reached about 20 percent, noting that the completion process in the final form depends on the allocation of three billion dollars.
The project director of the ministry, Asaad Rashed said in a statement published by the newspaper "morning" official and viewed by "economy News", "The Korean company, which contracted with the ministry earlier in the completion of the stage of infrastructure for the port project of Faw," explaining that " In the project currently ranges between 15 to 20 percent. "
Rashid added that "there is an intention to sign new contracts with foreign companies after the presentation of the project for investment, as the ministry is waiting for official approvals from the Council of Ministers in this regard," noting that "so far spent one billion dollars on the project."
He explained that "the completion of the project is expected to end in 2022, if the availability of three billion dollars at the moment," noting that "the project will provide hundreds of thousands of jobs and will do business in the country."
Rashed said that he will be able to receive the largest ships and will contain one hundred berth capacity of up to 99 million tons annually, which revives the country economically, especially Basra province, "stressing that" the port receives great attention by the Prime Minister and the Ministry and the General Ports Company because it involves the importance And if the port of Umm Qasr generates annual revenues ranging between 250 to 300 million dollars, the big FAO is expected to achieve revenues more than the revenues of the port of Umm Qasr twenty times, not to mention the extensive work that will create.
He pointed out that "many investment projects will join the port by allocating areas near it, the most prominent of which is the establishment of an air cargo airport, a refinery for petroleum products, a petrochemical plant, and a residential area for about 500 thousand people called (New FAO)."
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