Mitsubishi to develop port facilities in Iraq worth USD 110 mn
Mitsubishi will focus on port’s rehabilitation in the southern region of Basra
General Company for ports in the Republic of Iraq has awarded a USD 110 million contract to Japan's Mitsubishi Corporation for constructing port facilities in Country.
Mitsubishi will focus on port's rehabilitation in the southern region of Basra and will get fund's loan from Japan International Cooperation Agency(JICA).
Mitsubishi will work in partnership with contractors like Turkish firms, Calik Enerji and Gap Insaat.
According to the information these two Turkish companies will have a big role in the execution of construction work, while Mitsubishi will take care of overall project coordination and import of material and other necessary supplies from Japan.
The main purpose of the whole project is to modernize the facilities around Basra by expanding the oil products berth at Khor Al-Zubair Port.
Increasing demands of port infrastructure raise as the volume of trade flowing in and out of the country grows.
Only ports currently in operation in Barsa region are Khor Al-Zubair and Umm Qasr, this project will become noteworthy because of the geographical situation where Iraq can find a suitable outlet to the sea between Iran and Kuwait.