Page 678 - MOE ENGLISH PR - APRIL 2024
P. 678
4/22/24, 3:20 PM AD Ports to Develop Al Faw Grand Port and Economic Zone | Iraq Business News
AD Ports to Develop Al Faw Grand Port and Economic
Zone
5th April 2024 in Construction & Engineering In Iraq, Iraq Industry & Trade News, Iraq Transportation News
By John Lee.
AD Ports Group has announced that it has entered into a preliminary agreement with
the General Company for Ports of Iraq (GCPI).
Under the terms of the agreement, both parties will establish a joint venture to develop Al-
Faw Grand Port and its economic zone, as well as any future expansion. The agreement
also encompasses the potential investment, management, and operation of ports,
economic zones, and related infrastructure in other cities in the Republic of Iraq.
The agreement was signed in the presence of His Excellency Mr. Razzaq Muhaibas Al-
Saadawi, Iraq's Minister of Transport, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi,
UAE's Minister of State for Foreign Trade, by Captain Mohamed Juma Al Shamisi,
Managing Director & Group CEO, AD Ports Group, and Dr. Eng. Farhan Muhesen Al
Fartosi, Director General of the General Company for Ports of Iraq.
This signing follows a Memorandum of Understanding (MoU) inked by the two parties in
September 2021, and the subsequent addendum, signed in August 2023, to intensify
https://www.iraq-businessnews.com/2024/04/05/ad-ports-to-develop-al-faw-grand-port-and-economic-zone/ 1/3
