Russia commits support to Iraq's $17 Billion Development Road Project
Shafaq News/ The Russian President Advisor Igor Levitin conveyed Moscow's staunch commitment to participate in Iraq's $17 billion Development Road Project. Levitin's assurance came during a high-level meeting in Baghdad with Prime Minister Muhammad Shia Al-Sudani and Minister of Transport Razzaq Muhaibas Al-Saadawi.
A statement from the Iraqi Prime Minister's Office outlined the discussions, emphasizing the "deep historical ties between Iraq and Russia."
Prime Minister Al-Sudani highlighted Iraq's focus on diversifying its economy away from oil dependency, underlining the strategic significance of the Development Road Project in conjunction with the Al-Faw Port Project.
"This initiative is pivotal to Iraq's economic sustainability, fostering regional integration and connecting to global economic corridors." The statement said.
Levitin expressed Russia's eagerness to strengthen ties with Iraq across various sectors.
Minister of Transport Al-Saadawi emphasized the economic viability of the Development Road Project. He underscored Iraq's strategic location, positioning it as a global investment hub. Al-Saadawi assured Iraq's commitment to creating economic synergy among regional nations.
Levitin reciprocated Iraq's enthusiasm, expressing Russia's readiness to collaborate extensively, particularly in the transportation sector.
Russia's involvement in the Development Road Project is part of a broader initiative connecting the Al-Faw Grand Port on Iraq's southern coast to the Turkish border. This ambitious endeavor aims to facilitate faster transit between Asia and Europe, potentially rivaling the Suez Canal. High-speed trains, operating at speeds of up to 300 kilometers per hour, are envisioned to transport both goods and passengers. Plans also include extending rail and road networks to local industrial and energy centers and integrating oil and gas pipelines.
