Iraqi ports achieve over 65 billion dinars in one month

Iraqi ports achieve over 65 billion dinars in one month

The General Company for Ports of Iraq (GCPI) declared on Sunday that its income in February exceeded 65 billion dinars.

Farhan Al-Fartousi, Director of the GCPI, stated that Iraqi ports have high rates of container and cargo handling, both imported and exported.

Al-Fartousi stated that 73 import ships and 120 export ships landed in Iraqi ports in February.

Last year, the Iraqi Ministry of Transport announced plans to construct ports in Iraq, the most significant of which is the Al-Faw Grand Port, which is being developed by a Korean business.

Daewoo E&C is developing the Al-Faw Grand Port in southern Iraq, and the container terminal is part of the first phase that will begin operations, according to Maritime Gateway News.

The first phase will have five container shipping docks, each capable of accommodating ships up to 23,000 twenty-foot equivalent units (TEU).

When finished in 2038, the Al-Faw Grand Port, with 100 berths that can accommodate 7.5 million TEU annually, would replace Dubai’s 67-berth Jebel Ali as the largest container port in the Middle East, according to Maritime

The port’s first phase, which is scheduled to be finished in 2028, is planned to have an annual container handling capacity of four million TEU.

The $7 billion logistics project will compete with Egypt’s Suez Canal by connecting to Turkey via an overland train connection, making the port city of Basra a gateway to Europe.