Turkiye to make major investment in Development Road project
Shafaq News/ Turkiye will invest $19.9 billion in buildingrailways and roadways linked to the "Development Road" project, TurkishMinister of Transport and Infrastructure, Abdulkadir Uraloglu, announced, onTuesday.
Uraloglu said to Anadolu Agency, "There will be a2,094-kilometer railway line in Turkiye within the scope of the DevelopmentRoad project. We will build 1,655 kilometers of railway lines with aninvestment of $17.9 billion, which will connect to the existing 439 kilometersof railway lines."
He further explained, "Work continues building 928kilometers of railway, for which we have allocated $7.1 billion, and plans arein place to build the remaining 727 kilometers."
He also reminded that there are investments in highways aspart of the project, with a total of 331 kilometers of highways to be built ata cost of $2 billion, as part of 1,924 kilometers of land routes covered by theproject within Turkiye.
"The Development Road project will play a role inincreasing regional cooperation, and when the railway and highway projects arecompleted, our total investment will amount to $19.9 billion,” he concluded.
In the same context, Iraqi Deputy Foreign Minister, HishamAl-Alawi, emphasized that the “relationship between Iraq and Turkiye isimportant and diverse, built on a shared history, culture, and a history ofmutual benefit, adding that Iraq and Turkiye are working together in manyareas.”
Al-Alawi also recalled the signing of memorandums ofunderstanding and agreements that allow both sides to bridge gaps and advancebilateral relations. He added, "High-level reciprocal visits will continueto enhance bilateral relations and achieve the shared vision."
It is worth mentioning that on April 22, Turkiye, Iraq,Qatar, and the UAE signed a four-party memorandum of understanding in Baghdadto cooperate on the "Development Road" project, under the patronageof Turkish President Recep Tayyip Erdo?an and Iraqi Prime Minister MohammedShia' Al-Sudani.
The project features a 1,275-kilometer (792-mile) rail androad network designed to streamline the movement of goods between Europe andthe Gulf region. It is anticipated to significantly reduce trade costs betweenChina and Europe, with energy playing a crucial role due to Iraq's substantialoil reserves.
