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Transport approves the economic feasibility study for the development project
Economical 2023/06/15
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Baghdad: Saad Al Sammak
The Ministry of Transport announced the conclusion of the activities of the technical committees of the Development Road project, while it revealed the approval of the economic feasibility study prepared by the Italian consulting company on the vital project.
Last May, Baghdad hosted a conference to announce the initial launch of the strategic development road project, in the presence of transport ministers and representatives of ten regional countries. Minister Razzaq Muhibis Al-Saadawi said, yesterday, Wednesday, in a speech he delivered during the meeting of the technical committees on the development path project that was sponsored by his ministry and attended by "Al-Sabah": The development path constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world.
And during the meeting, which was held with the participation of ten countries, he indicated that Iraq is waiting for the technical committees to present their governments' full perceptions of the nature and proportions of their participation in the development project and special designs, stressing that the project will strengthen Iraq's economic and social relations with the countries of the world.
Al-Saadawi revealed the approval of the economic feasibility study prepared by the Italian consulting company, reiterating Iraq's determination to complete this project, as it constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world.
He stated that the presence of these countries is a prominent and distinctive sign, indicating the success of the project and its importance to them, and the evidence is the participation of these countries and the joining of China and Lebanon to this major international project, with the presence of the World Bank.
In addition, Naval Captain Salah Al-Eidani explained in an interview with "Al-Sabah": that investing the road will greatly help Iraq achieve integrated development for the countries participating in the project, expecting that its investments will reach more than 100 billion dollars for its first phase, while its industrial, marine and land investment sites will be formed. Promising economic, financial and technological centers that compete with global counterparts.
Edited by: Mostafa Majeed
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