The Iraqi government could not build the Greater Fao Terminal due to the shortages in its financial revenues, Iraqi Ports Administration expected, highlighting that the "investment process" is the best way for carrying out the project.
The Terminal cornerstone was laid down in April 2010, with estimated costs of 4.4 billion euros. However, the work in the terminal was postponed for one year due to lack of government’s funds.
It is worth highlighting that the Ports Administration is searching for "efficient" companies to pump investments in the terminal and there are many companies interested.
Economic experts anticipates that the Terminal will have an importance on the international trade levels, if a railway is built with it to connect the Arab Gulf with Europe through Turkey.
The Terminal cornerstone was laid down in April 2010, with estimated costs of 4.4 billion euros. However, the work in the terminal was postponed for one year due to lack of government’s funds.
It is worth highlighting that the Ports Administration is searching for "efficient" companies to pump investments in the terminal and there are many companies interested.
Economic experts anticipates that the Terminal will have an importance on the international trade levels, if a railway is built with it to connect the Arab Gulf with Europe through Turkey.
Source:
Mubasher
