Daewoo signs US$2.6 billion Iraq Port Deal
Iraq’s Ministry of Transport has signed a contract with Korea’s Daewoo to complete five infrastructure projects at the Grand Faw port.
The contract includes the construction of a 14-kilometre navigation channel extending to the sea, the basin for the ships which will dock at the port, and an underwater tunnel, which is to be the largest of its kind.
The navigation channel will have a depth of 19.8 metres, which will involve the removal of 110 million cubic metres of mud deposits.
Dr Farhan Muheisen Al-Fartousi, the Director General of the General Company for Ports of Iraq (GCPI), said that work will start “in the coming days“.
Source: Iraq Business News