Construction work begins on the Iraqi port of Al-Faw

The construction of Iraq's major port of Al-Faw, an ambitious project that will allow the Arab country to increase its loading and unloading capacity on the Gulf, its only outlet to the sea, began on Sunday with Prime Minister Mustafa al-Kazemi laying the foundation stone for the work.

This phase of the project includes "five container berths, the filling of container storage and handling space, the dredging of the inner and outer shipping channel, the Jur al-Zubari channel tunnel and the highway between the port of Al-Fao and Um Qasar," the president's office said in a statement.

Al-Kazemi said during the inauguration of the works that "an important strategic project that has been awaited by the population for many years" had begun and that the new port "will provide great opportunities for Iraq and will strengthen its geopolitical weight in the region and in the world".

The port of Al-Faw is located south of the oil-rich city of Basra and aims to facilitate communication between the Middle East and Eastern Europe via Turkey and Syria.

The total cost of the project is estimated at some 5.5 billion dollars (4.6 billion euros) and, when completed, it will have a handling capacity of 99,000 tonnes per year, making it one of the largest ports in the Persian Gulf.

This first phase was awarded to the South Korean company Daewoo for 2.6 billion dollars (2.1 billion euros).