Iraq intends to invite bids for the building of 85 quays in the Grand Faw Port project under construction in the Southern flank of the OPEC nation, an Iraqi official was reported on Wednesday as saying. 

South Korea's Daewoo E&C is building five of 90 quays in what would be one of the world’s largest container terminals under a $2.6 billion contract it won a few years ago, said Farhan Al-Fartoosi, Director General of the General Company for Ports of Iraq, a subsidiary of the Transport Ministry. 

“The 85 remaining quays will be offered to investors....they also could be awarded to contractors on joint operation basis,” Fartoosi told the official Daily Alsabah. 

The paper said the Faw project would cost nearly 4.6 billion euros ($5.4 billion) and it would be among the world’s largest 10 container ports. 

Faw Port will have a capacity to handle 99 million tonnes annually. It comprises a 39-km container quay and two km of berths along with a container warehouse and hinterland covering more than one million square metres. 

The project was launched in 2010 but was blocked by cash shortages due to internal hostilities and low oil prices. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com) 

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