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[size=36]Implemented by French and Korean companies .. Efforts to include the Baghdad train suspended in the supplementary budget[/size]
Political | 09:31 - 19/08/2019
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BAGHDAD - Mawazine News
coordinates the local government of Baghdad with the Ministry of Planning to include the draft train suspended in the supplementary budget for the current year.
The head of the strategic planning committee in the Baghdad provincial council, Nizar al-Sultan said in a statement quoted by the newspaper "Sabah", that "the province has received an offer from the coalition of international banks permanent ".
`` Based on that, I have submitted a formal request to the Ministry of Planning in order to obtain its approval to include the project in the supplementary budget for the current year 2019, after which the Ministry of Finance will be formally directed to start the financial allocation once the project is approved, '' he added.
"The suspended Baghdad train project was presented by the local government of Baghdad during the Kuwait Investment Conference last year, but no company submitted to finance it because of its high cost," the Sultan said. "This vital project is a successful solution to all transport problems in the capital."
He noted that "the Council coordinates with (Alstrom) and (Hyundai) in order to start signing the binding contract for implementation, pointing out that the duration of the implementation of the project is five years from the date of conclusion of the contract, in return for bearing the competitive interest for the financial offer and after the financial agreement agreed upon. With the possibility of operating an investment project with a competitive area not exceeding 20 percent of the net profits of the project, as is done in most of the world when the implementation of large projects.
The Chairman of the Strategic Planning Committee said that "delaying its completion is a waste of money since it has cost the state so far, $ 42 million to prepare detailed designs and consultancy studies, and the fields of consultancy by the project." Of the French government loan for its implementation with the possibility of including it in the budget next year. "
He pointed out that "the process of implementation of the project will enter into force early next year if the request for the province in this regard is approved."
coordinates the local government of Baghdad with the Ministry of Planning to include the draft train suspended in the supplementary budget for the current year.
The head of the strategic planning committee in the Baghdad provincial council, Nizar al-Sultan said in a statement quoted by the newspaper "Sabah", that "the province has received an offer from the coalition of international banks permanent ".
`` Based on that, I have submitted a formal request to the Ministry of Planning in order to obtain its approval to include the project in the supplementary budget for the current year 2019, after which the Ministry of Finance will be formally directed to start the financial allocation once the project is approved, '' he added.
"The suspended Baghdad train project was presented by the local government of Baghdad during the Kuwait Investment Conference last year, but no company submitted to finance it because of its high cost," the Sultan said. "This vital project is a successful solution to all transport problems in the capital."
He noted that "the Council coordinates with (Alstrom) and (Hyundai) in order to start signing the binding contract for implementation, pointing out that the duration of the implementation of the project is five years from the date of conclusion of the contract, in return for bearing the competitive interest for the financial offer and after the financial agreement agreed upon. With the possibility of operating an investment project with a competitive area not exceeding 20 percent of the net profits of the project, as is done in most of the world when the implementation of large projects.
The Chairman of the Strategic Planning Committee said that "delaying its completion is a waste of money since it has cost the state so far, $ 42 million to prepare detailed designs and consultancy studies, and the fields of consultancy by the project." Of the French government loan for its implementation with the possibility of including it in the budget next year. "
He pointed out that "the process of implementation of the project will enter into force early next year if the request for the province in this regard is approved."
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