10 April 2010 – Al SumariaTV
In Basra, the Ministry of Transportation set the foundation of Al Fao Great port which is expected to activate the trade and economic activity in the country and to raise the trade exchange activity with the world.
The port is expected to boost the importance of Iraq in regards of international transportation. The port’s space is huge, i.e. 14.673 million square meters and it can contain 99 million tons a year and it enjoys a strategic position.
The construction cost of this port is of 4.3 million euros and the first stage thereof will be implemented by an Italian company. The first stage is expected to end in 3 years maximum and the development thereof is expected to last till 2028.
In addition to its strategic position the attempt Iraq Ministry of Transportation is about to do by signing an agreement in order to decrease the prices of transportation with Syria and Turkey will play an important role in transforming this port into the best substitute of Suez canal which is the principal canal for transportation between the east and the west.