Iraq has completed preparations to kick off the much-delayed Baghdad elevated metro project, which could be offered to investors or as a joint public-private venture, an official was quoted on Monday as saying.

The Baghdad Secretariat (municipality) has "finalized all arrangements" for the planned Baghdad Metro and has invited international firms for a meeting to get acquainted with the project, Secretariat spokesman Hakim Abdul Zahra told the Iraqi Al-Iqtisad News.

He said the project could be offered "on an investment basis or as a joint venture between the government and the private sector."

Officials said in early 2020 the project could cost nearly $2.5 billion and that France's transport giant Alstom and Hyundai of South Korea have shown interest in the project.

In 2013, Alstom signed a 40-million-dollar deal with Iraq for phase 1 of the Baghdad Metro project, involving feasibility and engineering studies.

The Baghdad Metro, intended to ease traffic congestion, has been blocked by internal conflicts and cash shortages due to weak oil prices.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#Iraq #BaghdadMetro #Transport

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