The Iraqi Transport Ministry said on Wednesday that the designs for Grand al-Faw port will be ready in less than a year.
AKnews reports that the statements said that all the necessary preparations have been made to initiate the construction of the port including the financial allocations and the technical and engineering staffing.
Iraq announced its intention to build the port in 2005 and the foundation stone was laid in April 2010. But Kuwait took advantage of the delay in progress to announce the construction of Mubarak Port, just a few kilometers away from the al-Faw site, throwing doubt on the economic feasibility of the Iraqi port.
Al-Faw will cost approximately $5 billion and will have an estimated capacity of 99 million tons per year making it one of the largest ports in the Persian Gulf.
An Italian company will implement the project and has begun working on the designs of the port.
"The Ministry is serious about building the port immediately after the completion of its own designs. The ministry has provided all the requirements needed for the establishment of the port especially with regard to the financial allocations."