Iraq intends to approve funds in its 2022 budget for the much-delayed Baghdad Elevated Metro project which will be executed by France’s Alstom and Hyundai of South Korea, an official was quoted on Monday as saying.
A team of experts from the Transport Ministry is working to set the final path of the metro and will present a report to the cabinet within 10 days, cabinet secretariat spokesman Haydar Majeed told Aliqtisad News network.
Majeed said Ministry officials met representative from Alstom and Hyundai last week to discuss preparations to start the project.
“A Ministry team is currently working on the final path of the metro and will submit a report to the concerned authorities within 10 days…once it is approved, the cabinet will approve the necessary funds for the project from this year’s budget,” he said.
Alstom signed a $40 million agreement with Iraq in 2013 for the design studies for the $2.5 billion metro project, which involves building a 22-km rail network and 14 train substations.
(Writing by Nadim Kawach; Editing by Anoop Menon)