Daewoo begins work at Iraq's Faw port

Iraq 10:11 AM - 2021-04-10

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The Korean Daewoo company began the field survey of the five projects in the Faw Grand Port.

 

The Iraqi News Agency (INA) quoted a member of Parliament, MP Mudhir Al-Azirjawi as saying on Saturday that "the work in Faw has begun by a company specialized in clearing mines for the international linking road, and surveying the bottom of the Khor Al-Zubair channel in order to prepare for the implementation of the submerged channel." 

 

He pointed out that the company has also conducted depth surveys of the navigation channel and accelerated the pace of work on the three old projects.

 

For his part, the official of relations and media at the ports, Bahaa Ismail, confirmed that "there are experts who will arrive in Basra and the Faw port project who are 200 experts, in addition to an agreement to bring the largest concrete poles hammer in less than 40 days time period. "

 

Iraq’s government has agreed to sign a $2.625 billion contract with South Korea’s Daewoo Engineering & Construction (047040.KS) on December 30 to build the first phase of the giant commodities Faw port.

 

Faw Port is considered a strategic national project for Iraq, as it will be the only Iraqi port capable of receiving large ships, enabling Iraq to become part of a new silk road via the transference of goods from east to west through its lands from the Persian Gulf to the Mediterranean Sea.

 

The project was raised for the first time in 1978, but due to internal and external controversy, it only began after the regime change in 2003. Kuwait later launched the construction of the Mubarak megaport, which raised Iraq's concern as the two ports are close in distance and competition could negatively affect Faw Port. Kuwait announced recently it stopped building Mubarak Port until any further announcement to assure it does not affect its neighbors and also due to economic hardship caused by the coronavirus pandemic. 

 

 

 

PUKmedia