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The grand Faw port costs about $2.5 billion, Iraq’s Minister of Transport

Category: Economy

Date: 2021-04-13T16:13:15+0000
The grand Faw port costs about $2.5 billion, Iraq’s Minister of Transport

Shafaq News / Iraq’s Minister of Transport, Nasser Al-Shibli, considered the grand Faw port as an important economic project that “will save Iraq and support its budget.”

Al-Shibli said in a press conference today, Tuesday, it needs three and a half years to complete the construction of the Port, at a cost of $ 2.625 billion.

"At 19 meters depth, the grand Faw is a strategic project that will connect the east with the west through the dry canal.” He added.

The Minister confirmed that "the Port will be able to receive large ships," noting that "the South Korean company (Daewoo), has completed building the 8 km eastern breakwater and the western breakwater with 16 km length."

Al-Shibli said, "Guinness Book of World Records declared the western breakwater at the grand Faw port as the longest breakwater in the world.”

Iraqi Prime Minister Mustafa al-Kadhimi inaugurated Sunday the grand Faw in the oil-rich southern governorate of Basra, which contributes to the country’s financial budget.

Initial work on the project began in 2012, but mismanagement, political disputes, and other local and regional interests prevented the implementation process from commencing.

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