Iraq will select a foreign operator of its Faw Port in the first quarter of 2024 after several international companies submitted bids for the project, an Iraqi official has said.

Transport Ministry spokesman Maytham Al-Safi said the Ministry has tough terms for bidders to ensure successful operation of one of the world’s largest container terminals.

“Several international companies are competing for this contract…we have decided to choose the successful bidder in the first quarter of this year,” Safi said in a statement published by Aliqtisad News agency on Friday.

Safi said the $2.7 billion port in South Iraq would be completed at the end of 2027 and that it would be an “international container port” linking the East with the West and South.
Source: Reuters (Writing by Nadim Kawach; Editing by Anoop Menon)