Iraq to start implementing Development Road project within months

Baghdad (IraqiNews.com) – Iraq is set to begin implementing the Development Road project, a significant infrastructure initiative that aims to connect the Gulf region to Europe, in the coming months. Head of the state-owned General Company for Ports of Iraq (GCPI), Farhan al-Fartousi, said that the planning process for the Development Road project and the al-Faw Grand Port have made tremendous progress, with essential operating plans already submitted to the government, Rudaw News reported. The project will enter the implementation phase following government approval in the coming months, according to al-Fartousi. As it will connect the al-Faw Grand Port in southern Iraq to the border with Turkey by extending a railway and road network, the $17 billion project is expected to make Iraq a transit hub by reducing the time it takes to go from Asia to Europe. The project’s railway will significantly assist in the transportation of commodities, with a first-phase capacity of 3.5 million tons and a second-phase capacity of 7.5 million tons, as well as pipelines for energy transportation. By connecting the port city of Basra to Turkey via an overland route, the logistics project will compete with Egypt’s Suez Canal and establish Basra as a gateway to Europe. Iraq, Turkey, the UAE, and Qatar signed in 2024 a quadripartite agreement on Iraq’s Development Road project, aiming to enhance cooperation regarding Iraq’s strategic project, as the four countries will develop the necessary frameworks to carry out the project. Later in 2024, Turkey formed a council involving Bulgaria, Hungary, and Serbia to arrange the connection of Europe with Iraq’s Development Road. The project is expected to attract international trade and provide numerous employment and investment possibilities for Iraq and neighboring countries as it serves as a worldwide corridor for the transportation of commodities and energy. Since the Development Road will accomplish economic integration and sustainability between East and West, it is anticipated that this strategic initiative will promote economic growth and foster regional and worldwide cooperative links. The post Iraq to start implementing Development Road project within months appeared first on Iraqi News.