Latest news with #DevelopmentRoad
Iraqi News
6 days ago
- Business
- Iraqi News
Iraq unveils ambitious five-year plan to boost economy and infrastructure
Baghdad ( – Iraq's Ministry of Planning on Monday unveiled an ambitious five-year National Development Plan for 2024-2028, laying out a strategic roadmap aimed at diversifying the economy, modernizing infrastructure, and fostering sustainable growth. Ministry spokesperson Abd al-Zahra al-Hindawi told the Iraqi News Agency (INA) that the comprehensive plan is built on five main programs. These pillars include bolstering human capital through education and health, implementing economic and administrative reforms to improve the business environment, and upgrading infrastructure in key sectors like agriculture, industry, and tourism. A central focus of the plan is economic diversification, steering the country towards competitive industries and strengthening local production chains. Crucially, the strategy champions major strategic projects designed to enhance Iraq's regional and international economic ties, most notably the Development Road project and the Al-Faw Grand Port. The plan, drafted by 15 specialized committees involving government, private sector, and academic experts, also integrates modern concepts like e-governance and innovation. An integrated monitoring and evaluation framework has been established to ensure its efficient and effective implementation.
Shafaq News
01-08-2025
- Business
- Shafaq News
Energy at full speed: Development Road redraws Iraq-Turkiye ties
Shafaq News – Ankara/Baghdad Iraq and Turkiye are set to expand cooperation through the Development Road Project, which has evolved into a platform for a broader energy partnership, according to regional analysts. Spanning 1,200 kilometers and linking the Gulf to Europe via Iraqi and Turkish territory, the project has 'significantly strengthened' bilateral energy ties, Sercan Caliskan, a researcher at the Middle East Research Center (ORSAM) told Anadolu. 'The Development Road has opened the door to future-focused cooperation, steering relations toward a long-term strategic framework,' Caliskan said, noting that the success of this effort depends on sustained, high-level diplomacy. Energy analyst Yesar Al-Maleki of the Middle East Economic Survey (MEES) pointed out that the Iraq–Turkiye Ceyhan pipeline in Kirkuk could be used to transport crude from additional producers, reinforcing Turkiye's position as a regional transit hub. 'It also enables Ankara to integrate oil extracted through hydraulic fracturing in southeastern Turkiye, in cooperation with US companies.' Natural gas collaboration is also gaining momentum, he added. Imports from Turkiye could help Iraq reduce its reliance on frequently disrupted Iranian gas supplies. In the longer term, rising domestic output may allow Baghdad to export gas to Europe. Al-Maleki also noted that Turkiye would benefit from broader gas transit capabilities, channeling supplies from Russia, Azerbaijan, and other sources into Iraq—further cementing its role as a regional energy hub. Meanwhile, talks are already underway to replace the 1973 oil transit agreement, which expires in July 2026. Turkish officials have signaled that a more comprehensive accord is being considered, aligned with the broader objectives of the Development Road framework.
Shafaq News
29-07-2025
- Business
- Shafaq News
Turkiye seeks full use of Kirkuk–Ceyhan pipeline in new Iraq deal
Shafaq News – Baghdad/Ankara Turkiye's Energy Minister Alparslan Bayraktar called for a new energy agreement with Iraq that includes a mechanism to ensure the full use of the Kirkuk–Ceyhan oil pipeline. Speaking after a cabinet meeting, Bayraktar stressed that the pipeline, which has a capacity of 1.5 million barrels per day, has 'never been used at full capacity even during operational periods.' The pipeline has been offline since 2023 after an arbitration ruling ordered Ankara to pay $1.5B to Baghdad for unauthorized oil exports between 2014 and 2018, a decision Turkiye is appealing. Bayraktar noted that Turkiye's decades-old energy accord with Iraq expires in 2026 and proposed extending it to cover gas, electricity, and petrochemicals in addition to oil. He also suggested the pipeline could eventually be extended to southern Iraq, linking it to the country's Development Road project, which aims to connect Basra to Turkiye and onward to Europe.
Zawya
29-07-2025
- Business
- Zawya
Iraq to issue Development Road tenders in packages
Iraq intends to invite bids from international companies in late 2025 for 'The Development Road' the $17 billion mega multimodal project that will link Iraq to Europe via Turkey, an official said on Friday. The Development Road involves the construction of a 1,200-kilometre rail line and a parallel motorway traversing most of Iraq up to Turkey, and will be offered in several packages to contractors as it also comprises 15 industrial and economic zones, said Maytham Safi, information director at Iraq's transport ministry. Safi said in comments published by Iraq's media that the US consultancy firm Oliver Wyman is the economic adviser to the project while designs are carried out by Italy's BTP Infrastrutture. 'The initial designs for the project have been completed and we are now into the detailed design process…..we have made considerable progress in this stage so we can say that the project will be tendered to global companies before the end of this year,' Safi said. The UAE, Qatar and Turkey are partners in the 'Development Road' project, which will cut across 11 Iraqi governorates up to the Northern border with Turkey, from where shipments will travel to and from Europe. Iraq hopes other countries and companies will join the project to secure funding on an investment and revenue-sharing basis. Officials said last year the project, one of the largest of its kind in the Middle East, would be served by the Southern Faw Port, slated to be among the largest 20 container terminals. The port is expected to be commissioned before the end of 2025 while the 'Development Road' is scheduled to be completed in 2029. Iraq, OPEC's second largest oil producer, hopes the project will turn it into a major transit and business hub in the region. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Iraqi News
26-07-2025
- Business
- Iraqi News
Iraq's Development Road to include 6 airports and 15 industrial cities
Baghdad ( – Iraq's Ministry of Transport recently unveiled key outcomes from a pivotal meeting led by Prime Minister Mohammed Shia Al-Sudani regarding the ambitious Development Road project. Held last Wednesday, the session brought together the Minister of Transport, the head of the Supreme Committee for Coordination Between Governorates, and various directors-general, advisors, along with a representative from Oliver Wyman, the project's economic consultant. Maytham Al-Safi, Director of Relations and Media for the Ministry of Transport, told the Iraqi News Agency (INA) that discussions around the Development Road project have been continuous. These meetings have involved the Ministry of Transport, other relevant institutions, and both the Italian technical consultant (BTB) and the economic consultant, Oliver Wyman. Delving into last Wednesday's meeting, Al-Safi explained that the Prime Minister stressed a clear commitment to implementing directives, particularly concerning the formation of a committee. This committee will be tasked with determining the final route between Iraq and Turkey, basing its decisions on technical and economic considerations. Furthermore, the Prime Minister emphasized resolving all existing challenges within the project and adhering to its strict timelines. The meeting also featured a presentation by Oliver Wyman on the project's economic and financial model, according to Al-Safi. This presentation, a culmination of previous discussions with the Ministry of Transport, outlined the economic framework to be presented to the Prime Minister, leading to its finalization and preparation for investment offerings. Regarding the project's current status, Al-Safi confirmed that the preliminary design phase has concluded, and significant progress has been made in the detailed design stage. The Ministry aims to present the project to major international companies by the end of the current year. The project will be strategically divided into sections to encourage competition among global firms, ensuring their adherence to international standards for successful implementation. Beyond Iraq's borders, Al-Safi disclosed that several countries are already formal partners in the project, including Turkey, Qatar, and the United Arab Emirates, via signed Memoranda of Understanding. Additionally, another council has been formed, comprising Turkey, Hungary, Serbia, and Bulgaria, representing the European dimension of the initiative. Other nations also aspire to join the project, either in its execution or participation. Al-Safi highlighted recent visits from economic representatives of various embassies in Baghdad to the Ministry of Transport and the Supreme Committee for the Development Road project, including the Chinese economic advisor last year and the Australian and French ambassadors this year. These discussions underscored widespread international interest in the project, recognizing it as a global endeavor with implications beyond Iraq for the entire region and the world. Ultimately, Al-Safi asserted that the Development Road project is poised to create thousands of job opportunities for Iraqis and fundamentally transform Iraq's economic transportation landscape. It is also expected to boost the national economic output, leading to comprehensive Iraqi economic integration, both domestically and internationally. The project's overarching policy aims for seamless connectivity across all sectors. Al-Safi further clarified that the project will integrate three existing major airports—Baghdad, Basra, and Najaf—and will connect to three new airports slated to enter service: Nasiriyah, Karbalaa, and the recently opened Mosul airport. Moreover, the project will link to 15 industrial cities, emphasizing its role beyond mere transit. He concluded by stating that the project is an integrated developmental initiative, benefiting connecting provinces by utilizing their raw materials and generating investment opportunities through local governments, institutions, and ministries.
