Transportation: Daewoo is backing from building the Faw port and is demanding additional funds

by **claud39** Thu Nov 05, 2020 10:29 am

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds

11/05/2020

Economy News _ Baghdad

The Iraqi Ministry of Transport announced, on Thursday, that the South Korean "Daewoo" company had withdrawn its initial agreement to build the Faw port in Basra, due to the company's demand for additional sums to proceed with the project.

Ministry spokesman Faleh Hadi said in a press interview, "The Korean Daewoo company has informed us of the withdrawal of its initial agreement that was signed with the ministry on a three-and-a-half-year contract with specifications to be implemented according to what was established by the Italian consultant designing the port of Faw.

"The ministry was surprised by the demands of the Korean company for additional sums to proceed to dig the depth of the port project to 19.80 meters," Hadi added, stressing that the Minister of Transport rejected these demands and asked them to abide by the initial agreement according to the basic designs drawn up by the Italian designer.

He indicated that negotiations are still ongoing with the Korean company until now, and the Minister of Transport, who arrived in Basra accompanied by the Prime Minister, will go during their tour to the port of Faw.

The large port of Al-Faw is an Iraqi port in the Al-Faw peninsula, south of Basra Governorate. The cost of the project is about 4.6 billion euros and the estimated capacity of the port is estimated at 99 million tons annually, to be one of the largest ports overlooking the Gulf and the tenth in the world.

The foundation stone for this project was laid on April 5, 2010.

The issue of the Grand Port of Faw and the delay in completing it sparked controversy, and deputies accused successive governments of concluding deals with neighboring countries that neglected to establish the port for the benefit of the ports of those countries.

The project also witnessed some delay after the "suicide" of the technical director of the South Korean company, Daewoo, which is implementing the large Fao port project, for mysterious reasons.

The government spokesman, Ahmed Mulla Talal, said in a press conference, that the prime minister stressed in the cabinet session that Iraq has a sovereign and constitutional right to Iraqi ports, specifically the Grand Faw port, adding that Al-Kazimi “pledged during the session that his government would have the honor to start Actually implementing the Faw port. "

https://economy-news.net/content.php?id=22556

by **GirlBye** Thu Nov 05, 2020 10:33 am

On Thursday, the Ministry of Transport announced that the Korean company, Daewoo, had retreated from completing the construction of the Al-Faw port project, indicating that the company had requested additional sums and an extension of the contract period.

Ministry spokesman Faleh Hadi said in an interview with Alsumaria News that "Daewoo has withdrawn its initial agreement to complete the Faw port project, which was designed by the Italian consultant," noting that "the company requested additional sums and an extension of the contract period to continue the project."
He added, "The Minister of Transport rejected the company's demands and asked it to abide by the contract that was signed with the ministry with a contract for a period of 3.5 years and to dig the port with a depth of more than 19.8 meters."

Hadi pointed out that “the company started negotiations with the ministry after it retreated from its position,” stressing that “the Minister of Transport will visit today, with Prime Minister Al-Kazemi, the port of Faw to see the latest developments regarding the construction of the port within the first phase according to the specified period.

https://iraqakhbar.com/2740073”

by **claud39** Fri Nov 06, 2020 9:52 am

The Ministry of Transport reveals the papers of the Faw port and the reasons for the withdrawal of the Korean company

11/06/2020

Economy News _ Baghdad

On Friday, the Ministry of Transport revealed the circumstances of the agreement with the Korean company to implement the Faw port and its withdrawal recently after reaching an initial agreement, before the company requested an increase in the implementation time and funds by more than $ 430 million.

The ministry stated in a statement that "Al-Eqtisad News" received a copy of it, that “since the government of Prime Minister Mustafa Al-Kazemi assumed its duties, the Grand Port of Faw was given great importance and started the actual steps for implementation. Conditions of government contracts in order to speed up and raise the pace of work, and the company's machinery and machinery and its engineering and technical staff are present in the work land, which saves time and effort faster.

And she added, “Daewoo successfully implemented the western port breakwater, based on the above, negotiations were held for a period of three months by the Ministry of Transport represented by the minister and the advanced cadre with the former director of the company and its advanced staff in the presence of members of the Parliamentary Services Committee and the Parliamentary Integrity Committee. A preliminary agreement to implement five projects with a depth of the mooring basin and the navigation canal at a depth of 19.8, with a total amount of two billion three hundred seventy million dollars, with an implementation period extending to three years.

And she explained that “after the appointment of the new director of the Faw port project, the Korean side represented the Daewoo company, headed by the deputy director of Daewoo, who came from Seoul, as Daewoo demanded that the ceiling of implementation amounts be raised from 2 billion and 370 million dollars to 2 billion and 800 million if the ministry wanted Depths of 19.8 ”.

She pointed out that “the Minister of Transport rejected these demands and gave them a three-day deadline to reverse their decision and abide by the first initial agreement, and in their last meeting after the specified period, Daewoo refused to abide by the first agreement and their insistence on adding the additional amount and increasing the implementation period, which prompted the minister to refuse to raise the ceiling of demands. As if Daewoo kept sticking to its final decision and negotiations are still continuing. ”

https://economy-news.net/content.php?id=22569

by **claud39** Sun Nov 08, 2020 9:35 am

Minister of Transport: Chinese companies provide their services in case we do not reach an agreement with Daewoo

11/08/2020

Economy News - Baghdad

On Sunday, Transport Minister Nasser Al-Shibli confirmed that negotiations are continuing with the Korean Daewoo Company to complete the construction of the Faw Port project.

The official news agency quoted Al-Shibli as saying that "negotiations are continuing with the Korean Daewoo," noting that "Daewoo has two contracts for the Faw port project, which will end in 2021."

The minister pointed out that "Chinese companies are ready to provide their services in case we do not reach an agreement with Daewoo."

https://economy-news.net/content.php?id=22587

by **claud39** Sun Nov 08, 2020 10:24 am

[size=32]Al-Kaabi chairs an expanded meeting to discuss the large "Faw Port" file, in the presence of the Minister of Transport[/size]

11/8/2020

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 2020-11-08-at-14.26-18-800x445

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 2020-11-08-at-14.26-18-800x445

Mr. Hassan Karim Al Kaabi, First Deputy Speaker of Parliament, chaired today, Sunday 8 November 2020, an expanded meeting of the Construction and Parliamentary Services Committee, in the presence of a number of deputies of the parliamentary committees, the Minister of Transport, Mr. Nasser Hussain Bandar, and a number of ministry officials, to discuss the file of the large Fao project.

Al-Kaabi said that the port of Faw is among the most sensitive and important files for the state and the Iraqi people, as it represents a major economic and investment interface and a main artery for Iraq after oil, as well as being a starting point for trade with the outside world, indicating that what increases its importance are projects to revive a road Silk, the dry canal, and the link line between East and West, and its importance is not for the Iraqi economy now, but for the future of our generations in general, and from this standpoint we have to see the full details of this file and highlight the facts in full and know the obstacles facing this project, so that we work together to quickly overcome them And to ensure the completion of the project as soon as possible and strive to complete it to be at the level of international ports.

For his part, the minister stressed that his ministry is serious about completing this project due to its economic importance to the country, stressing that negotiations with the Korean company will continue in the same direction, and the details of the contract will be announced with full transparency to the Iraqi people.

The meeting ended by stressing the need to move forward with the completion of the project, as it represents a basic demand for the people and the future of future generations.

The Media Office of the
First Deputy Speaker of Parliament
8/11/2020

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 2020-11-08-at-14.26-19-1024x682

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 2020-11-08-at-14.26-19-1024x682

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 2020-11-08-at-14.26-18-1024x682

https://ar.parliament.iq/2020/11/08/%d8%a7%d9%84%d9%83%d8%b9%d8%a8%d9%8a-%d9%8a%d8%aa%d8%b1%d8%a3%d8%b3-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9%d8%a7-%d9%85%d9%88%d8%b3%d8%b9%d8%a7-%d9%84%d8%a8%d8%ad%d8%ab-%d9%85%d9%84%d9%81-%d9%85/

by **claud39** Tue Nov 10, 2020 10:13 am

The Minister of Transport talks about two projects that will save the Iraqi economy from the oil crisis

10/11/2020

Economy News - Baghdad

The Minister of Transport, Nasser Al-Shibli, said, on Tuesday, that the projects of the Faw port and the funicular will “save” the national economy from the oil crisis.

"The western breakwater has been accomplished in a better way than the eastern breaker, and we asked the Korean company to build 5 piers and a canal," Al-Shibli said in televised statements followed by Al-Iktissad News.

He added, "It is not possible to build the large port of Faw through small projects," noting that "reports of the competent authorities confirmed the suicide of the director of the Korean company."

Al-Shibli indicated that "the new director of the Korean company called for an increase in the sums allocated to the port of Faw," explaining that "the increase amounts to from two billion 300 million to two billion and 800 million dollars."

He added that "the Korean company has reduced the required sums," noting that "Prime Minister Mustafa Al-Kazemi has directed to expedite the completion of the Faw Port."

The Iraqi Minister of Transport noted that "the Korean company has existed for 7 years and is the one who built the breakwater," pointing out that "the Korean company has proven its worth in building the western breakwater."

He said, "Some previous governments wanted to give the port for investment," explaining that he "demanded that the Faw port be included in the internal and external borrowing."

Al-Shibli pointed out that "there are loans from Korea and China to complete the Faw Grand Port project," noting that "previous decades are not convincing and do not build the Faw Grand Port."

https://economy-news.net/content.php?id=22612

by **claud39** Tue Nov 10, 2020 10:19 am

Al-Kaabi calls for including 600 billion dinars in the loan law for the Faw port

10/11/2020

Economy News - Baghdad

First Deputy Speaker of Parliament, Hassan Al-Kaabi, called on Tuesday for including 600 billion dinars in the law to finance the fiscal deficit for the Faw port.

According to a document obtained by the Iraqi News Agency (INA), "Al-Kaabi called on the Parliamentary Finance Committee to include an amount of 600 billion dinars in the draft bill of financing the fiscal deficit to finance the first phase of the large port of Faw.

https://economy-news.net/content.php?id=22618

by **claud39** Tue Nov 17, 2020 1:37 pm

Al-Kazemi: The director of "Daewoo" committed suicide because he was subjected to pressure and blackmail

2020-11-17

Transportation: Daewoo is backing from building the Faw port and is demanding additional funds 1604311372804

Shafaq News / The Iraqi Prime Minister, Mustafa Al-Kazemi said, on Tuesday, that the director of the Korean "Daewoo" company had committed suicide after being subjected to "pressure and blackmail."

In statements he made after the cabinet session, Al-Kazemi said, "The talk about canceling agreements, including the Chinese agreement, is regrettable," adding that "my message to politicians and media professionals is to convey the truth and wear lies."

He pointed out that “the Chinese agreement has not been canceled and it was signed by the Al-Abadi government in February 2018,” stressing at the same time that “the Faw Grand Port project has not been canceled, and that it will be signed.”

And Al-Kazemi said, "The director of the Korean company was subjected to pressure and blackmail, after which he committed suicide."

On the general budget for the next year 2021, Al-Kazemi said, "It will be approved and sent to the House of Representatives," adding, "If it is not approved in Parliament on time, we will face a problem in the first month of the year 2021."

On October 9, the security authorities in Basra Governorate, southern Iraq, found the body of a Korean company director a few days after signing a huge contract to work in the large port of Faw .

The local authorities preferred the hypothesis of suicide, after he was found hanged by a wire .

A security source told Shafaq News Agency, that the "suicide" is named Park Hoba, director of the Korean Daewoo company, and a worker was reported dead after watching him commented.

https://shafaq.com/ar/%D8%A7%D9%82%D8%AA%D8%B5%D9%80%D8%A7%D8%AF/%D8%A7%D9%84%D9%83%D8%A7%D8%B8%D9%85%D9%8A-%D9%85%D8%AF%D9%8A%D8%B1-%D8%AF%D8%A7%D9%8A%D9%88-%D8%A7%D9%86%D8%AA%D8%AD%D8%B1-%D9%84%D8%AA%D8%B9%D8%B1%D8%B6%D9%87-%D9%84%D8%B6%D8%BA%D9%88%D8%B7%D8%A7%D8%AA-%D9%88%D8%A7%D8%A8%D8%AA%D8%B2%D8%A7%D8%B2

by **claud39** Wed Nov 18, 2020 5:58 pm

Oil invites international companies to implement the Faw refinery project

11/18/2020

Economy News _ Baghdad

On Wednesday, the Ministry of Oil invited international companies to participate in the competition to implement the Al-Faw investment refinery project, with a capacity of 300 thousand barrels per day.

Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement that Al-Iqtisad News received a copy of, that the ministry is proceeding with its procedures to re-invite international companies to participate in the implementation of an investment refinery project in Basra Governorate (Al-Faw Investment Refinery) with a capacity of (300) thousand barrels per day in the manner (BOO) ) Or (BOOT) according to the Investment Law in Refineries No. 64 of (2007) and its amendments, "explaining that" the project is one of the large and important strategic projects in the field of sustainable development and the development of the oil industry in the country. "

Ismail added that "the production specifications in the refinery will be environmentally friendly and in conformity with international specifications (EURO_5)," noting that "a petrochemical complex will be added in the future to the project."

Ismail pointed out that "the ministry has many plans and projects in the oil derivatives refining sector to achieve self-sufficiency for local consumption of various types of fuel for citizens and government institutions, and to stop importing petroleum products that cost the state sums of money."

For its part, the Ministry of Studies, Planning and Follow-up Department stated that it "has prepared a portfolio of information for the project with the aim of providing it to companies wishing to participate in the competition for the implementation of the project."

https://economy-news.net/content.php?id=22762

by **claud39** Mon Nov 23, 2020 6:05 pm

An official move to abandon the Korean company with an ideal offer to another country to establish the Faw port

11/23/2020

Economy News _ Baghdad

An official document issued by the Ministry of Transport revealed that the Chinese side approached to inquire about China's position regarding its desire to establish the Faw port, after negotiations between the Iraqi and Korean side supervising the implementation of the project were hampered.

And Iraq officially opened to China about the possibility of implementing the large Faw port by the Chinese company Cmec, which had previously submitted a bid to establish the large Faw port in 2011.

Oil expert Nabil Al-Marsoumi said in a blog post monitored by Al-Eqtisad News, “The Chinese offer is based on the turnkey method at a cost of $ 6 billion to be paid in the form of crude oil 6 years after the port’s opening and at the loading day price, noting that the interest rate requested by the Chinese company is the same. In thousand, a sovereign guarantee from the Ministry of Finance and the work shall be according to the Italian design.

Among the advantages of the Chinese offer is that it gave Iraq the right to "appoint a global consulting firm to monitor implementation."

Al-Marsoumi stated that "even though the offer was rejected at the time by the Iraqi side, the Chinese company is ready to renew the offer again," considering that it is "an ideal offer for Iraq, which is currently suffering from a stifling financial crisis, and therefore accepting the Chinese offer would be important." To provide Iraq with about half a billion dollars that should have been paid to the Korean company Daewoo to start implementing the Faw port project.

https://economy-news.net/content.php?id=22820