Investment opportunities at Faw
It seems that there may be new investment opportunities on the table for local and foreign companies at Al-Faw Port in Basra.
According to the Iraqi News, Iraqi Minister of Transportation Abdel Hussien al-Abtan has announced that the Ministry is ready to provide investment opportunities to local and foreign companies at the port.
Mr Abtan said in a statement, “The local government and the people of Basra have the priority to take privilege of the strategic projects that are established in the province.”
“There are a lot of investment opportunities in Basra Province. The local government is ready to cooperate and provide investment opportunities in the Faw Port project.”
It’s not the first time there have been murmurs of this. At the end of 2015 Iraq announced that it was making shares available to the public for its Grand Faw container port, a planned project said to be worth US$1.3bn.
Grand Faw container port was initially planned as a US$17bn port, but a steep drop in crude oil prices prompted the government to seek out financial aid.
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