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Iraq set to award new Faw Port deals

Posted on January 6, 2021   |  

  • Iraq intends to award new contracts worth $2 billion to build one of the world’s largest container terminals in the Southern Faw Peninsula.
  • The General Authority for Ports in Iraq will sign the contracts.
  • Iraqi officials have said the“Grand Faw Port” would cost around 4 trillion Iraqi dinars ($3.36 billion) to be funded by the government and investors, and would have the capacity to handle 99 million tonnes annually.
  • The project was launched in 2010 but it was held up by internal hostilities and the country’s cash shortages due to low oil prices.