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by Maher Nazeh (Reuters) – Iraq agreed to a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction ($047040.KS) on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.
Under the contract, signed in Baghdad by representatives of Iraq’s transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building five berths to unload ships and a yard for containers.
Daweoo will also carry out dredging and drilling works to create an access navigation channel, Farhan al-Fartousi, Iraq’s director general at the General Company for Ports, told Reuters on the sidelines of a signing ceremony at the transportation ministry headquarters.
UPDATE 1-Iraq signs $2 6 bln deal with S Korea s Daewoo to build first phase of Faw port
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Iraq agreed a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.
Under the contract, signed in Baghdad by representatives of Iraq’s transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building five berths to unload ships and a yard for containers.
Daweoo will also carry out dredging and drilling works to create an access navigation channel, Farhan al-Fartousi, Iraq’s director general at the General Company for Ports, told Reuters on the sidelines of a signing ceremony at the transportation ministry headquarters.
Share this article
BAGHDAD, Dec 30 (Reuters) – Iraq agreed a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction (047040.KS) on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.
Under the contract, signed in Baghdad by representatives of Iraq’s transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building five berths to unload ships and a yard for containers.
Daweoo will also carry out dredging and drilling works to create an access navigation channel, Farhan al-Fartousi, Iraq’s director general at the General Company for Ports, told Reuters on the sidelines of a signing ceremony at the transportation ministry headquarters.
Iraq signs $2.6 billion deal with S. Korea s Daewoo to build first phase of Faw port
By Reuters Staff
2 Min Read
BAGHDAD (Reuters) -Iraq agreed a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction (047040.KS) on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.
Under the contract, signed in Baghdad by representatives of Iraq’s transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building five berths to unload ships and a yard for containers.
Daweoo will also carry out dredging and drilling works to create an access navigation channel, Farhan al-Fartousi, Iraq’s director general at the General Company for Ports, told Reuters on the sidelines of a signing ceremony at the transportation ministry headquarters.
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