PROJECTS: Iraq to offer road projects to private sector

Plan for new roads and bridges

  
Image used for illustrative purpose. Vehicles move past a bridge under construction in central Baghdad, August 21, 2011.

Image used for illustrative purpose. Vehicles move past a bridge under construction in central Baghdad, August 21, 2011.

REUTERS/Mohammed Ameen

Iraq is planning to offer road projects to the private sector for the first time in a bid to ease budget burdens on the state which is reeling under severe cash shortages due to weak oil prices, a local news network reported on Sunday.

The Construction, Housing and Municipalities Ministry is conducting a study on the benefits of letting private companies undertake road and bridge projects as an investment, Aliqtisad News said, quoting director of the roads and bridges division at the Ministry Hussein Kadhim.

"We have a plan to turn to private investment in roads and bridges projects through Iraq...this is a new experience in Iraq and we believe that it will support the country's budget and ease financial burdens on the government," Kadhim said.

He told the paper that there are plans to build new roads and bridges and expand key roads in various areas in Iraq.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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