Economy Overview – Baghdad
The General Company for Iraqi Ports has announced significant progress in its engagement with a global firm for the management and operation of the FAO port. Furthermore, a substantial package of projects akin to those in the refinery sector is set to be unveiled at Faw Port.
Farhan Al-Fartousi, Director of the Iraqi Ports Company, stated: “The fixed segment of the submerged tunnel is nearing completion, with 100% readiness expected soon. This will include two outbound lanes and two for passengers, seamlessly connecting to the highway from the external side and to the submerged tunnel internally.” He elaborated that “the unfinished segment will feature ten counterblocks, each measuring 11 meters high, 34 meters wide, and 126 meters long, with a total weight of 45,000 tons, all of which have been poured into a specialized basin referred to as the submerged tunnel basin.”
Al-Fartousi continued, “Once the pieces were formed, they underwent thorough examination and preparation. The floating operations then commenced, which involved relocating them to the designated area and initiating the process of affixing and connecting the fixed portions.” He highlighted that “our teams, along with our operational partners—an Italian engineering firm providing oversight, a Korean company executing the project, and a Dutch firm specialized in such undertakings—successfully linked the first segment and integrated it into the tunnel. As this piece is now installed, we have begun floating the second segment, with plans for ten parts in total to complete the tunnel, facilitating traffic in both directions between Faw and its counterpart.”
On another note, Al-Fartousi indicated that “we have reached advanced stages in contracting with a reputable firm to oversee the port’s operations. We are now awaiting feedback from the advisory company regarding the contracting frameworks and additional specifics, after which the proposal will be submitted to the Supreme Committee for approval, leading us to finalize the contract.”
He also mentioned, “In the next month to a month and a half, we are looking to finalize a contract for a significant marine base project followed by an LNG initiative. Moreover, we have a large-scale refinery project within the Mu’ah Al-Maamay, for which we are actively monitoring developments in collaboration with the Ministry of Oil, and this will soon enter service.”
Additionally, Al-Fartousi noted, “We aim to establish an industrial zone and are in discussions with potential companies keen to participate in this expansive project. A considerable array of projects will soon be announced at the Faw Port, similar to the refinery initiatives.”
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