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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    British newspaper: Iraq's development path will compete with the Suez Canal

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 282968
    Join date : 2012-12-21
    • Post n°1

    British newspaper: Iraq's development path will compete with the Suez Canal Empty British newspaper: Iraq's development path will compete with the Suez Canal

    Post by Rocky Mon 09 Dec 2024, 4:07 am

    [size=46]British newspaper: Iraq's development path will compete with the Suez Canal[/size]
    economy
    10:31 - 2024-12-09
    [You must be registered and logged in to see this image.]

    The British newspaper, Daily Express, discussed in a report the huge infrastructure project that Iraq is working on to create a new road linking Europe and West Asia, known as the Development Road, which extends from the ports of southern Iraq to Turkey via a network of multiple roads, as it may compete with the Egyptian Suez Canal crossing due to the short distance that will connect the two continents and guarantee Iraq a global economic position.

    The newspaper pointed out that the project, which costs 17 billion dollars, will extend over a distance of 1,200 km from southern Iraq to the north of Turkey, where it will consist of a network of multiple roads, railways, ports and cities, and will reduce the distance traveled between Asia and Europe, which constitutes these advantages competing with the Egyptian Suez Canal, which currently represents a major commercial crossing linking the two continents.
    The report states that the project is expected to expand to reach Europe after the establishment of a commercial crossing that passes through Turkey, which will guarantee Iraq an international position in global trade, in addition to its internal economic returns and the development of its infrastructure.
    According to the report, the new trade route will be built along the ongoing Faw Grand Port project, a massive port overlooking the Gulf that will allow Iraq to create a better route for exports to the rest of the world and will be one of the largest development projects ever undertaken in the country.
     The project was announced by Iraqi Prime Minister Mohammed Shia al-Sudani last May during his meeting with representatives of the Iranian, Jordanian, Kuwaiti, Omani, Saudi, Syrian, Turkish and UAE ministries of transport.
    Al-Sudani said he sees the project as a pillar for a non-oil economic source and a road network serving neighboring countries of Iraq and the
    region, and contributing to strengthening efforts for economic unity. The report indicated that the project is expected to take between three and five years to complete. The Turkish ambassador to Baghdad, Ali Riza Kunay, had stated in press statements that the development road will enhance joint economic cooperation between countries in the region.
    According to the Wilson Center for Analysis and Research, the development road project aims to create a trade corridor extending from the port of Faw in Basra in the south to Turkey in the north and then to the European continent, indicating that this would enhance regional stability and the country's economic prosperity, stressing that it is one of the largest infrastructure projects in the history of Iraq, which aims to establish a railway line linking Iraq to Europe and London. The first phase of the project is expected to be completed by 2028, and its cost may rise to reach 24 billion dollars.
    The report indicates that the advantage of this project is that it will shorten the distance required to transport goods to the European market by ten days compared to if it were done via the Suez Canal.
    The Iraqi Minister of Transport, Razzaq Al-Saadawi, stated that the development road project may provide a lower financial alternative to the Suez Canal for transporting goods, thanks to the capacity of the Grand Faw Port, which can receive large commercial ships with a depth of up to 19.5 meters. He added that this road will save a period of time between 12 and 15 days compared to its Egyptian counterpart.
    There are a number of countries that support the project and have strong economies, namely the United Arab Emirates and the State of Qatar, which have signed memoranda of understanding in this regard.
    The Iraqi official said that the project is a purely economic project and has no competition with any other party, as Iraq enjoys an important geographical location sharing borders with Türkiye and the project will benefit all parties.
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Wed 15 Jan 2025, 7:43 am