(MENAFN- Iraq Business News) By John Lee.
The Iraqi Prime Minister has confirmed that Iraq has agreed with Abu Dhabi Ports (AD Ports Group) on a partnership to operate the new Al-Faw Grand Port.
Addressing a round table held by the Bilateral Chamber in Houston, Texas, as part of his official visit to the United States, Muhammad Shiaa Al-Sudani said the parties are currently finalising the details of the agreements.
He said that the port will be operational by the end of 2025, and is set to be one of the largest ports in the region, adding:
"The Development Road project associated with Al-Faw Port will be a vital undertaking, and we are coordinating with the Turkish side regarding this."
There will be a large economic city and a new residential city attached to Al-Faw Port, which will include projects for all related industries.
The meeting was also informed that Iraq will sign a contract with a Chinese company for the construction of the Al-Faw refinery, with a capacity of 300,000 barrels per day.
(Source: PMO)
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