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4/22/24, 3:18 PM AD Ports Group, General Company for Ports of Iraq ink agreement to develop Al Faw Grand Port, Economic Zone - Arabian Busin…
AD Ports Group, General Company for
Ports of Iraq ink agreement to
develop Al Faw Grand Port, Economic
Zone
The agreement also encompasses the potential investment,
management, and operation of ports, economic zones, and
related infrastructure in other cities in Iraq
Image: AD Ports Group
AD Ports Group announced entering into a preliminary agreement with the General Company for Ports of Iraq to
establish a joint venture to develop Al-Faw Grand Port and its economic zone, as well as any future expansion in Iraq.
The agreement also encompasses the potential investment, management, and operation of ports, economic zones,
and related infrastructure in other cities in Iraq.
The joint venture is set to bring together the expertise of both entities to attract international terminal operators,
foster global trade relations, and develop commercial sea corridors, contributing to Iraq’s economic growth.
The preliminary agreement aims to provide the necessary expertise for Al-Faw Port and Economic Zone, using
advanced management and operating models.
It also envisages studying the mechanism of developing, financing, managing, operating and maintaining the project.
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