The death of a top executive of Daewoo Engineering and Construction (Daewoo E&C) in the Southern Iraqi Port of Basra will not affect the Al Faw Grand Port project, according to the Arab country's Transport Ministry.
In September 2019, Business Korea had reported that the South Korean contractor was awarded a $70.35 million order to build a road in Al Faw, its third project, following the first phase of the Al Faw Port Container Terminal project and additional work for a breakwater.
Newspapers said on Thursday had reported death-by-suicide of the head of the Daewoo E&C office in Basra, Park Chul-ho.
"We are going ahead with Faw Port project .....the company has informed us that it has the expertise and personnel to pursue the project," the Ministry said in a statement carried by the local press.
The incident came two days after the Ministry said it had prepared the final version of the Faw contract and would sign it with Daewoo in the next few days.
Interior Ministry officials said they had started an investigation in the incident. At the same time, the deputy speaker of Iraq's parliament described it as "serious," noting that it "underscores the need to guarantee the security of all investors in Iraq and to push ahead with this strategic project."
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)
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