Iraqi PM announces completion of designs for railway routes in "Development Road" project
Date
9/15/2024 3:09:15 AM
(MENAFN) Iraqi Prime Minister Mohammed Shia Al-Sudani announced that the designs for the railway routes in the "Development Road" project involving Turkey, Qatar, and the UAE have been completed. This announcement was made during a dialogue seminar focusing on the project and the investment opportunities it presents. According to Al-Sudani, the completion of these railway designs marks a significant milestone, and the entire project is expected to take five years to complete, ultimately transforming Iraq into an "open country."
The "Development Road" project stems from a quadripartite memorandum of understanding signed on April 22 in Baghdad. Turkey, Iraq, Qatar, and the UAE agreed to cooperate on this ambitious project under the auspices of Turkish President Recep Tayyip Erdogan and Prime Minister Al-Sudani. The project aims to enhance connectivity by establishing a network of land and railway roads extending from Iraq to Turkey's ports, covering a distance of 1,200 kilometers within Iraq.
Al-Sudani mentioned that the Iraqi government has sought support from the World Bank to finance the project, particularly for the section that runs from Basra in the south to Mosul in the north. He emphasized that international partnerships play a crucial role, noting that agreements with international companies signal positive cooperation. Additionally, he stated the government's intention to involve the private sector in the project, similar to the experiences of the 1960s and 1970s.
The upcoming meeting of the Ministerial Council on the "Development Road" project is scheduled for November. In preparation for the project's implementation, the government has begun a study to form an authority that will manage the development road. This project aims to facilitate the transportation of goods between Europe and Gulf countries, enhancing economic ties and regional connectivity.
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