Preliminary designs completed for $24B Iraq-Turkiye Development Road Project: Global Construction
Shafaq News/ The first engineeringdesigns for the Development Road Project, which will link Iraq and Turkiye,have been completed, the London-based "Global Construction Review" affirmedin a report.
According to the report, theproject’s design includes a 1,200-kilometer motorway between Iraq and Turkiye, aimedat boosting the economic corridor between the PersianGulf and theMediterranean Sea.
The report also highlighted that theproject would include a railway and an oil pipeline, with estimates indicatingthat Turkiye and Iraq plan to invest $24 billion in the corridor.
Qatar and the UAE have joined talksto invest in the project, which revolves around Al-Faw Port, Iraq's onlydeep-water port capable of handling large ships and containers.
Currently, the Port is undergoing a$2.6 billion modernizationby South Korea’s Daewoo E&C. “A five-berthcontainer terminal with an initial capacity of 3.5 million containers a year isexpected to open for business in 2025, with full completion to follow in 2028,”the report said.
Supporters of the project hope thatthe road between Al-Faw and Istanbul will serve as “a new artery for globaltrade,” potentially bypassing the Suez Canal and reducing shipping time betweenChina and Europe by two weeks.
“The Development Road would followthe Euphrates River from Basra to Nasiriyah, passing through the Shiapilgrimage cities of Najaf and Karbala, and continuing to Baghdad and Mosul,”the report pointed out. “From there, it would reach the southern Turkish bordercity of Mersin before finally extending to Istanbul and Europe.”
Furthermore, the report noted thatconstruction of the project is set to begin in 2025, with completion expectedin three phases: in 2028, 2033, and 2050. However, “progress would depend onIraq and Turkiye resolving a number of political disputes.”
Among the key issues are theKurdistan Workers’ Party (PKK) and Turkiye’s use of water from the Tigris andEuphrates rivers, “which Iraq says is hurting its irrigation-dependentagriculture,” the report confirmed.
Development Road Project
Iraq’s Development Road project,officially launched during Turkish President Tayyip Erdogan's visit to Baghdadin April, is set to become a cornerstone of regional trade and economic growth.Earlier, Iraqi Prime Minister Mohammed Shia Al-Sudani stated that the vitalRoad project "will transform Iraq from a landlocked country to an openone."
The project features a1,275-kilometer (792-mile) rail and road network designed to streamline themovement of goods between Europe and the Gulf region. It is anticipated tosignificantly reduce trade costs between China and Europe, with energy playinga crucial role due to Iraq's substantial oil reserves.
Iraq holds approximately 10% ofglobal oil reserves and contributes 5% of global production. This strategicadvantage is expected to enhance the project's impact on regional trade.
The investment budget for theproject is estimated at $17 billion, with $6.5 billion allocated for highwaysand $10.5 billion designated for an electrified railway.
In addition to transforming regionaltrade dynamics, the Development Road Project is forecasted to create 100,000jobs in its first phase and potentially up to one million jobs upon completion.
