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4/22/24, 3:17 PM AD Ports Group, Iraq's GCPI sign agreement to develop Al Faw Grand Port, Economic Zone
AD Ports Group, Iraq operator sign agreement to develop Al Faw port, economic zone
Preliminary agreement sets stage for joint venture, boosting economic growth

in Iraq

The partnership extends to potential investments, management and operation of ports (Image: WAM)
In a significant move aimed at bolstering trade and economic development, AD Ports

Group and the General Company for Ports of Iraq (GCPI) have entered into a
preliminary agreement to establish a joint venture for the development of Al Faw
Grand Port and its economic zone. This partnership also extends to potential
investments, management and operation of ports, economic zones, and related

infrastructure across Iraq.
Foundation for collaboration
Key figures from both the UAE and Iraq witnessed the agreement signing, including

Razzaq Muhaibas Al Saadawi, Iraq’s minister of transport, and Dr. Thani bin Ahmed
Al Zeyoudi, minister of state for foreign trade. Captain Mohamed Juma Al Shamisi,
managing director & group CEO, AD Ports Group, and Dr. Eng. Farhan Muhesen Al
Fartosi, director general of GCPI, signed the agreement.

The latest agreement follows a memorandum of understanding (MoU) that the two
entities signed in September 2021, and a subsequent addendum in August 2023 which
aims to enhance cooperation. By joining forces, AD Ports Group and GCPI aim to

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