PROJECTS: Iraq to include Baghdad Metro in 2021 budget

Alstom set to build metro

  
Image used for illustrative purpose. A worker places parts during the installation of the railway tracks in the NEAT Gotthard Base tunnel near Faido May 12, 2014. Crossing the Alps, the world's longest train tunnel should become operational at the end of 2016. The project consists of two parallel single track tunnels, each of a length of 57 km (35 miles).

Image used for illustrative purpose. A worker places parts during the installation of the railway tracks in the NEAT Gotthard Base tunnel near Faido May 12, 2014. Crossing the Alps, the world's longest train tunnel should become operational at the end of 2016. The project consists of two parallel single track tunnels, each of a length of 57 km (35 miles).

REUTERS/Arnd Wiegmann

Iraq intends to allocate funds from its 2021 state budget for the planned Baghdad Elevated Metro project, the country's Planning Minister was quoted Thursday as saying.

Khaled Al-Najm made the comments after meeting France's Ambassador and an accompanying delegation in Baghdad on Wednesday for talks on the project.

"The Baghdad Metro project will be included in the 2021 budget as it is about to be launched," Najm was quoted as saying by Aliqtisad News and other Iraqi publications.

Najm did not mention how much funds would be allocated for the much-delayed project, which is expected to be submitted shortly to parliament for approval before it is formally awarded to France's Alstom.

Officials have said the project, which involves the construction of a 22-km rail network and 14 train substations, could cost around $2.5 billion.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020