The head of the Arab Gulf Studies Center in Basra University said on Monday that the center will hold a seminar to discuss the economic feasibility of the planned Faw port to be built in the Ras al-Bayshah area of Basra province.
The center's director, Jassim Ghali Roumi, told AKnews that the seminar commissioned by Iraq’s parliament to discuss the economic, social and geographical feasibility of the port that will be the country’s biggest, will be held on Tuesday on the Basra University campus.
"The seminar will make recommendations to be submitted to parliament,” Roumi explained.
The new Transport Minister, Hadi al-Amiri, confirmed during his visit to Basra province that the Faw port construction project will be launched this year at an estimated cost of $66bn.
The construction of the Faw port alongside the expansion of the country's existing 2,000 km of railway is part of a drive to modernize public infrastructure and kick-start Iraq's economy now that major new oil contracts have been signed.
Goods, once unloaded at the new port, would then be loaded onto the new railway system and reach Europe overland more quickly than ships might reach Egypt's Suez Canal, which connects the Mediterranean to the Red Sea.
The port, to be called 'Grand Faw', will be constructed in two three-year stages. It will include 7,000 metres of dock ready to receive container ships. The 17 meter-deep dock for general cargo will cover 3,500 metres.