Zubaidi announced the formation of Basra Holding Investment Company port of Faw

2015-12-24 18:23:26 | (Voice of Iraq) - Baghdad

Said Transport Minister Bayan Jabr, Thursday, for the formation of Basra Holding Investment Company port of Faw, noting that no offer has not been received for the construction of the port by any global company, as he emphasized that building the FAO would deliver goods from Asia to Europe via the Silk Road.

He said Transport Minister Bayan Jabr in a joint conference with the governor and chairman of Basra in Adnan Balharthyh he Palace "was formed Basra Holding Company of the people of Basra to invest in the port of Faw," adding that "the ministry tended to invest in the port after the foot-dragging of the project during the past two years as a result of the crisis Finance ".

He promised that "the ministry has not received any offer by any global company to build a port in spite of providing the Italian advisor to 90 companies willing to invest in it," noting that "the ministry reduced the amount of investment for the port of Faw from 7 billion to $ 1.3 billion."

He said al-Zubaidi that "the construction of the port of Faw would deliver goods from Asia to Europe via the Silk Road which is the cornerstone of each other in Iraq strategic projects including Skki line developed for the transfer of these goods from the port to the European countries," pointing to "a desire for an international company to build this line after the start of construction of the port of Faw to proceed. "

For his part, the governor of Basra Majed Nasraoui that "the formation of Basra Holding Company will contribute to the local government and the people of Basra by 51%," explaining that "the other figure, amounting to 49% of the company will be implemented after the contract with them."

He explained Nasroaa "The port, which is in the case created the largest ports blocked during the last period of art for political and other reasons," pointing out that "constructive would come back to the people of Basra in particular and Iraq in general a significant economic benefit."

The General Company for Ports, which is based in the province of Basra announced, in (16 May 2015), to the port of Faw will be the third largest commercial port in the world after the ports of Singapore and Shanghai, while expected to be completed construction of the port all the accompaniment by 2030.