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Gulf investors invited to implement “Iraq Great Port” project
Translated by IRAQdirectory.com - [08/03/2007]


Governor of Basrah, Muhammad Misbih Alwaeli, invited Arab (especially Gulf) and international companies to present designs concerning “Iraq Great Port” project which is intended to be set up at the mouth of Shatt al-Arab in the city of Faw, (100 km south of Basrah).

Alwaeli stressed that “the project of the port is a first step in establishing a broad Iraqi investment base starting from Basrah, explaining that it would be built in a 100% safe area, located outside the city, and isolated from any political or party activity, as well as being protected by Iraqi forces, which will help inviting investors to examine it”.

Alwaeli especially invited Gulf investors in Kuwait, United Arab Emirates and Saudi Arabia, preferring their presentations to foreign bidders, because most of Basrah families have affinity and kinship relations with many Gulf businessmen; also, the area is located within the Arabian Gulf region, which facilitates the transfer of equipment and machinery across common waters.

Alwaeli denied the information about the fears of some Gulf businessmen from the Iranian influence in Basrah, pointing out that “these fears are mere illusions created by some enemies of the city and political opponents, in order to obstruct the reconstruction projects in it”.

He explained that the project includes the construction of a port accommodate the anticipated requirements of reconstruction; the project will be implemented on several stages, comprising building docks, warehouses and a railway linking Iraq to the ancient Silk Road, connecting Europe to Iraq, in addition to the construction of housing units, chalets, parks and recreational projects, which will be organized by a central law of their own. He confirmed the desire of some European banks to fund the project.