9 May 2013
Five companies, two from South Korea, two from the Netherlands and one from Greece, have submitted bids to build the $6-billion Grand Faw port near Basra, Iraq, reports Iraqi news agency, Aswat al-Iraq.
Announcing the opening of bids for the strategically important project at Iraq’s narrow access point to the Persian Gulf, transport minister Hadi al-Ameri said that the Faw Terminal project will be finished in three years, and will achieve a "revolution in the world of transportation".
Mr al-Ameri said the terminal will assist national development and will provide extra work opportunities to Basra population.
The Grand Faw port project is being completed in three phases. A $264million contract for the initial phase to build the port’s breakwater and quay walls was awarded to Greece’s Archirodon Construction Company in October 2012.
Work was due to startÂ in December 2012 and take two years to complete.