Al-Faw Grand Port (Phase 1)

Objective

This pivotal infrastructure will link Asia and Europe via the "Development Road" project, aiming to redefine regional trade routes, boost Iraq's economy, and reduce cargo transit times.

Description

The Al-Faw Grand Port Phase 1, located on the Al-Faw Peninsula in Basra, Iraq, is a transformative project designed to become the Middle East's largest deep-water port. Being constructed by South Korea’s Daewoo E&C, this phase is set for completion in 2025 and includes five container berths with an annual capacity of 3.5 million TEU, alongside extensive dredging and container yards. It features a 62-km highway to Umm Qasr and a 2.4-km subsea tunnel.

Finance