By John Lee.
Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, announced the signing of a contract with Oliver Wyman, a consultancy firm, to provide advisory services for the Development Road project.
Al-Saadawi stated that the consultancy will assist the ministry in marketing the project and overseeing investment opportunities. The contract, signed by Younis Khalid Jawad, Director General of Iraqi Railways, and Pedro Oliveira, Managing Director of Oliver Wyman, marks a first for Iraq in terms of financial and economic advisory services for governmental strategic projects.
According to a statement from the Ministry, the contract aims to elevate the international significance of the Development Road, a project supported by Prime Minister Al Sudani. Al-Saadawi highlighted that the preliminary designs for the railway route are 80-percent complete, the highway designs are 75-percent complete, and soil investigation for the project is 92-percent finished.
The signing ceremony was attended by Prime Minister's Advisor for Investment Affairs, Mohammed Al-Najjar, and several ministry officials.
(Source: Ministry of Transport)
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