Iraq Set to Launch $17 Billion Development Road Project

BAGHDAD, Iraq — Iraq will begin implementing the Development Road project in the coming months, according to the head of the Iraqi State Ports Company. Farhan al-Fartusi, the company's general manager, said the planning process and construction of the Faw Grand Port have made significant progress, with necessary operational plans submitted to the government. The project awaits final government approval before moving to the implementation phase. The $17 billion project will connect Faw Port in southern Iraq to the Turkish border via rail and road networks. The railway's first phase will have a capacity of 3.5 million tons, expanding to 7.5 million tons in the second phase. The project also includes pipelines for energy transport. Iraqi officials say the project aims to reduce transit time from Asia to Europe and establish Iraq as a major transit hub, positioning it as a competitor to Egypt's Suez Canal. Iraq, Turkey, the United Arab Emirates and Qatar signed a four-party agreement for the project in 2024.