Iraq establishes “special company” to manage Development Road Project

Shafaq News/ Iraq has established a “special company” to manage the Development Road Project, Prime Minister Mohammed Shia Al-Sudani’s media office stated on Thursday.

According to the statement, the PM presided over the Higher Committee for Monitoring the Implementation of the project's second meeting in a week to review progress and assess directives from the previous session.

During the meeting, the committee approved the Iraq Development Fund’s initiative to establish the company. Plans are also underway to form a dedicated regulatory body for the initiative.

Additionally, the committee finalized interim governance regulations governing cooperation between Iraq and Turkiye on the project. Al-Sudani instructed consulting firm Oliver Wyman to hold a joint meeting with Iraqi and Turkish officials to finalize these regulations.