120 Companies to Invest in Iraqi Ports

The director of Iraqi Ports announced on Monday that 120 companies would participate in the development of Iraq's ports, indicating that most of the berths will be offered on the basis of joint operation contracts between Ministry of Transport and global companies.

It's expected that 120 companies, including Mazda, Siemens, Volkswagen and Audi, will invest in the Iraqi ports,” the Director of Iraqi Ports, Salah Kadaier, told AKnews.

Joint operating contracts have helped increase profits more than three-fold in recent years, Kadaier added.

As we reported last week, the Iraqi Ports company has signed a seven-year, $120m, joint operation contract with German company Marlog.

French company C&G, and Gulftainer from the UAE, have also begun work on ports berths in Basra (550 km south of Baghdad).

(Source: AKnews)

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