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AD Ports Group signed a preliminary agreement with the General Company for Ports of Iraq (GCPI) earlier this week to develop Al-Faw Grand Port, its economic zone and any future expansions.
The deal covers the prospective investment, administration and operation of ports, economic zones and related infrastructure in other locations throughout the Republic of Iraq.
The agreement was signed in the presence of His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, by Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group, and Dr. Eng. Farhan Muhesen Al Fartosi, Director General of the General Company for Ports of Iraq.
Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport , said: “Al Faw Grand Port and Economic Zone project is of great importance to the Iraqi government, which is committed to implementing the project in line with the highest global standards, in cooperation with our partners in the UAE and AD Ports Group.”
“ By leveraging the port’s strategic location linking commercial lines between the East and the West, we will unlock new opportunities for trade, investment and economic growth, contributing to the prosperity of our nation ,” added Dr. Eng. Farhan Muhesen Al Fartosi, Director General of the General Company for Ports of Iraq.