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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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The truth about the Faw port, the Silk Road, and the 450 billion dollars... Rami Jawad

rocky
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The truth about the Faw port, the Silk Road, and the 450 billion dollars... Rami Jawad Empty The truth about the Faw port, the Silk Road, and the 450 billion dollars... Rami Jawad

Post by rocky Thu 20 Jan 2022, 6:30 am


[size=30]The truth about the Faw port, the Silk Road, and the 450 billion dollars... Rami Jawad


20-01-2022
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[rtl]Mortada Al-Azzawi wrote:[/rtl]
Faw Economic City Project

The project was proposed for investment in infrastructure through a memorandum of understanding between the government of al-Abadi and the government of China in December 2015 to establish the Faw Industrial City and include petrochemical plants and giant oil refineries, in addition to global trade exchange areas, (including the completion of the current Faw port project).

According to this memorandum, the city is built in a “participation-style investment” way, meaning that Iraq does not pay any costs for the project, and then ownership of all projects will be transferred to the Iraqi government after the end of the contract period, which was estimated between (20-25) years and an amount of up to (450) billion dollars. (It is the number that the Iraqis circulate without knowing its source))
This memorandum turned into the strategic framework agreement, which was signed on May 11, 2018 between the Iraqi Minister of Finance in the government of Al-Abadi and the Republic of China.
My account supplement was signed in October 2019 by the government of Adel Abdul-Mahdi to activate the agreement (which I referred to in the previous post),
As a result of the collapse of oil prices and the failure to enact a budget law for the year 2020, the agreement was not activated and sums of oil exports were deposited to allow Chinese companies to start,
The start of work on the Chinese agreement was announced after the vote on the general budget law and the start of the first phase of it, such as the project (construction of 1000) schools throughout Iraq, and Chinese companies have now begun to take over all sites in some governorates,

What about the Silk Road project in Iraq?
There are no discussions between the government of China and Iraq on the matter, and China has not included the Iraq-Turkey road in its reports regarding the Belt and Road Initiative until today.
As for the countries that signed the Silk Agreement with China, they are Iran and the UAE (the American ally).

It is worth noting that Iraq had previously proposed the rail link project between the city of Faw and Turkey more than four times during the years (2010-2012) and invitations were sent to international companies, and no company came forward to invest in these projects due to their high costs and low returns, which require more than (25) year to recover the paid-up capital, in addition to the poor security situation that prevents major investors from entering Iraq,
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