Iraq is awaiting funds allocated by its 2023 budget to launch the long-awaited metro project in its capital Baghdad, the Transport Ministry said on Monday.
The Ministry said it is also in the process of possessing land encompassing the path of the Baghdad Elevated Train (BET), which is expected to cost nearly $2.6 billion.
“The Ministry is waiting to receive allocations from the 2023 budget for the project... afterwards, it will invite some specialised foreign companies to negotiate with them and award the project to the suitable one,” the Ministry said in a statement, published by Aliqtisad News and other Iraqi networks.
The statement said designs for the project have been completed, adding that it involves what it described as an “integrated transport network” that targets dense areas.
Officials have indicated that France’s Alstom and Hyundai of South Korea would execute the project, which aims to ease congestion in Baghdad.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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