Transportation establish a holding company to invest in the port of Faw

Thursday 24-12-2015 | 2:12:58

Shafaq News / The Iraqi Ministry of Transport on Thursday the formation of a holding company to invest in the port of Faw planned for his stay in Basra on the Persian Gulf.

The ministry published on its website that the Transport Minister Baqir al-Zubaidi met with the governor of Basra and head of the provincial council and announced the formation of Basra Holding Company to invest in the port of Faw.

And the port of Faw was the foundation stone for the project on 5 April / April 2010 put in the Faw peninsula south of Basra province, and the project will cost about 4.6 billion euros.

The estimated planned port capacity inception 99 million tons per year to be one of the largest ports overlooking the Arabian Gulf region.

The port is located in the Ras Bisha area in the province of Basra on the Persian Gulf and will be the largest ports in the Gulf is the world's largest ports. And a reliable Iraq to change the global shipping map for he would convey goods from Japan, China and South East Asia to Europe via Iraq and vice versa.