Abtan declares open the door for investment for foreign and domestic companies in the port of Faw

2016-07-28 09:09:55 | (Voice of Iraq) - Baghdad

The Minister of Transport Agency Abdul Hussein Abtan, on Wednesday, for the ministry is ready to open the door for investment for foreign and domestic companies in the port of Faw in Basra province, and while stressing the need to work to " the fullest possible to complete this strategic projects", he pointed out that Basra province and its citizens They will benefit from the operation of the projects.

Said Abdul Hussein Abtan, in a speech during a workshop held for companies wishing to invest in the port of Faw in Basra province, he said that "Basra is the first fruits, local government and the citizens of Basra them priority in such strategic projects which will be held on the territory of the province , " stressing the need to " work as far as possible to complete these projects. "

He Abtan, that "all the opportunities present in the province of Basra to be present for the investment," but he also said "were not even proceed to complete the project will benefit the citizens of Basra operation projects in the right way and the availability of jobs."

He Abtan, that "of the Ministry of Transport and Investment Authority , the federal government is willing to cooperate and the starting and opening investment doors for this gigantic project strategic , " stressing that " the ministry is waiting for the companies attending and non - attending local companies and the Iraqi ministries interact with this project to completion," (referring to the project the port of Faw).

The Ministry of Transport has revealed, on Sunday (10 July 2016), the next two years will witness the operation of the port of Faw effectively to receive the goods, and indicated that the ministry resorted to launch construction of breakwater project and sidewalks to the investment of the lack of necessary for the implementation of the financial potential, as confirmed several calls by international companies specialized guide to announce the investment opportunities in the harbor.

The Ministry of Transport, revealed in the (18 June 2016), its intention to extend invitations to foreign companies in the coming days, to invest in the port of Faw, while likely to start operating the port of Faw fully during the next two years.

The transport minister resigned Bayan Jabr announced (24 December 2015), refer the project port of Faw to Basra Holding Company, he confirmed reduce the amount of the project to one billion three hundred million dollars, while Basra management indicated that the company is executing the project will offer 51% shares of the value of the project on the population of the province.

It is said that the Greek Archirodon company that won the contract to implement the project breaker eastern waves at a cost of about 320 billion dinars, actually began work in late May of 2013 the current.

The Ministry of Transport in April of 2010, the foundation stone for the Faw port , which contains according to the basic designs berths for containers 39 thousand meter long jetty another length of 2,000 meters as well as a yard for the storage area of the container more than one million square meters and other yard multi - purpose area of 6 thousand meters as square of the maximum capacity of the port 99 million tons per year while the cost of speculative for the project amounts to four billion, four hundred million euros.

The government had estimated earlier, the total cost to complete the port project "Faw", to 4.4 billion euros, has begun implementation of the first phase of which included the establishment of engineering designs for the project "breakwater" East and West, in 2010.