Iraqi PM discusses investment opportunities with Turkey’s Limak

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Iraqi PM discusses investment opportunities with Turkey’s Limak

On Thursday, Iraqi Prime Minister Mohammed Shia Al-Sudani visited a group from Limak, a Turkish corporation that specializes in transportation and building projects.

According to a statement released by the Prime Minister’s Office, Al-Sudani spoke with Limak’s owner, Nihat Ozdemir, the company’s investment and development potential in Iraq, particularly in infrastructure and transportation projects.

The two sides also discussed ongoing development projects in Iraq, including the Development Road and the Al-Faw Grand Port, as well as road, bridge, and industrial city projects in various governorates.

The Iraqi Prime Minister stated that the country’s investment climate has improved and become more welcoming, particularly after banking, administrative, and financial reforms were completed and the private sector was able to develop effective collaborations with international enterprises.

The Iraqi government has renamed the dry canal that connects the Al-Faw Grand Port in southern Iraq to Turkish territory via railway networks and highways as the Development Road.

It will stretch 1,200 kilometers from Al-Faw port town in southern Iraq to Faysh Khabur in the northern Iraqi governorate of Duhok.
The Development Road comprises a railway that will transport electric trains across ten Iraqi governorates.

In a joint news conference with the Turkish President in March, Al-Sudani emphasized that the Development Road symbolizes a worldwide corridor for the transportation of products and energy.

The Iraqi Prime Minister demonstrated that the project comprises a railway for transporting commodities, with a capacity of 3.5 million tons in the first phase and increasing to 7.5 million tons in the second.

Al-Sudani went on to say that the project would also feature a highway for land transport and energy pipelines, as well as the Al-Faw Grand Port and the industrial metropolis, which is predicted to be one of the largest in the Middle East.

The Iraqi Premier went on to say that the project will create many jobs in Iraq and other countries in the area, as well as chances for companies and merchants, and will serve as a hub for global commerce.