By John Lee. An article for Port Strategy has questioned whether Iraq’s huge Al Faw port project is it really necessary, or is just a 'rice bowl' for a select few enabled by dysfunctional government? "It appears to be a text book case study in a government and civil society short on technical and commercial […]
Tag Archives | Grand Fao
Petrofac Exec admits Bribes Paid to Win Iraq Contracts
In connection with the UK Serious Fraud Office (SFO)’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) […]
Tags: Al Fao, Al Faw, Badra, Corruption, featured, fraud, Grand Fao, Grand Faw, Petrofac, Serious Fraud Office, SFO, United Kingdom
$6bn Iraqi Port Development available for Investment
By John Lee. Iraq's National Investment Commission (NIC) has included the "Grand Port of Al Faw" in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: Project cost: $6 billion Location: Basra Design capacity: Phase one 2018: […]
Tags: Al Basra, Al Fao, Al Faw, Al Faw Grand Port, Basra News, featured, Grand Fao, Grand Faw, National Investment Commission (NIC), Ports
Plans to Sell Shares in $1.3bn Iraqi Port
By Editor on 4th January 2016 in Construction & Engineering In Iraq, Investment, Iraq Transportation News
By John Lee. Iraq is reportedly planning to sell shares in the $1.3-billion Grand Faw container port to the public. The head of the Basra provincial council, Sabah Al-Bazooni, told Bloomberg Business that the local government in Basra will seek permission from Baghdad in the coming days to set up a holding company to sell the […]
Tags: China, featured, Grand Fao, Grand Faw, Iraq Stock Exchange, Kuwait, Ports, stock market, United States
NIC Calls for Grand Faw Port Investment
By Editor on 18th April 2015 in Construction & Engineering In Iraq, Investment, Iraq Transportation News
Ministry of Transport has announce the investment opportunity of constructing the Major Port of Faw (Al Faw Grand Port) according to investment law No. 13 for the year 2006, amended and its regulations. DESCRIPTION Project location: Faw Peninsula, Abdullah Khor beach, South of Iraq Project total area: 40 thousand donum Port area: 54 KM² Designed […]
$7.4bn Investment Offer for Grand Faw Port
By John Lee. Iraq's Transport Minister has said that companies from the UAE, Iran, Turkey and China have offered to invest $7.4 billion dollars (8.6 trillion Iraqi dinars) for the development of the Grand Faw (Grand Fao) port project. Baqir Al Zubeidi told al-Forat news agency that the investment would cover the construction of quays […]
Tags: Al Faw Grand Port, China, Grand Fao, Grand Faw, Iran, Ports, Turkey, UAE, United Arab Emirates
Investors Sought for $6.5bn Port Project
By Editor on 3rd April 2015 in Construction & Engineering In Iraq, Investment, Iraq Transportation News
By John Lee. Iraq has reportedly invited global investors to bid for its multi-billion-dollar Grand Faw port project. The Ministry of Transport put the project’s total cost at around $6.5 billion (7.6 trillion Iraqi dinars), adding that only "serious and financially able" companies can bid. The port has a planned capacity of around 99 million […]
Investors may be sought for Grand Faw Port
By John Lee. Iraqi Transport Minister Baqr Jabr Al-Zubeidi (pictured) has said that Iraq is considering seeking foreign investors to fund the multi-billion-dollar Grand Faw [Grand Fao] port project. Emirates 24/7 quotes the Minister as saying that the transport ministry is unable to execute the $6-billion (7-trillion-Iraqi-dinar) project, and is considering awarding the project "on […]
Faw Port Companies Exempted from Taxes
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through […]
Greek Company Wins 200m-Euro Grand Faw Contract
By John Lee. Iraq's Ministry of Transport has reportedly signed a contract with a Greek company to construct the eastern breakwater and dock services for the new Grand Faw sea-port. According to NINA, the project will cost 204 million Euros, equivalent to 315 billion Iraqi dinars. While the name of the company was not mentioned, […]
Iraq Shortlists 2 to Build Breakwater
By John Lee. Iraq has announced a shortlist of two companies to build a breakwater for the $6 billion first phase of its Grand Fao port development. The director general of the State Company for Iraqi Ports, Omran Radhi (pictured), told Bloomberg that the Archirodon Construction Company submitted the lowest bid of 204 billion dinars […]
Tags: Al Faw Grand Port, Al Habtoor Leighton Group, Archirodon, China Communications Construction, Daewoo, Dredging International, General Company of Iraqi Ports, Grand Fao, Grand Faw, Hyundai, Jeongshin, Ports
16 Firms Bid to Build $412m Grand Faw Breakwater
By John Lee. Sixteen companies have bid to build a 480 billion-dinar ($412 million) breakwater for Iraq's Grand Fao [Grand Faw] port. Omran Radhi, director general of the State Company for Iraq’s Ports, told Bloomberg that the list of bidders includes: Hyundai Engineering & Construction; Daewoo Engineering & Construction; Dredging International; China Communications Construction Company; […]