Latest news with #FarhanAl-Fartousi
Iraqi News
22-05-2025
- Business
- Iraqi News
Iraq makes great progress in Al-Faw Grad Port's underwater tunnel
Baghdad ( – The General Company for Ports of Iraq (GCPI) declared substantial progress on Wednesday in the construction of the submerged tunnel as part of the Al-Faw Grand Port project. This milestone was highlighted by completing the installation of the third concrete section, which was one of the project's most sensitive engineering stages, demanding extreme accuracy and excellent technical coordination, according to a statement released by the GCPI. GCPI's director, Farhan Al-Fartousi, stated that the third section has been precisely positioned in the waterway. The installation of the third concrete section was completed in approximately four to five hours, bringing the total length of the structure under the Khor Al-Zubair Channel to 567 meters, as stated by Al-Fartousi. The water level above the third segment is expected to reach approximately 15 meters, demonstrating the process's effectiveness in achieving the specified design depth in line with the technical standards required for submerged tunnels. The underwater tunnel forms part of the new highway being built to link the Al-Faw Grand Port to Umm Qasr Port and the existing transport network, including Iraq's strategic project of the Development Road. The Iraqi Minister of Transport, Razzaq Al-Saadawi, revealed in March that the first phase of the Al-Faw Grand Port will be completed by the end of 2025. The first phase of the project consists of five piers, which have been completely finished; a 62-kilometer road that connects the Al-Faw Grand Port to Umm Qasr port city; a 2,400-meter-long submerged tunnel; a ship canal; and a container yard, according to the Iraqi News Agency (INA). The Al-Faw Grand Port is located on the Khor Abdallah Channel, near the mouth of Shatt Al-Arab. According to Maritime Gateway News, the five container shipping berths, which have been constructed by Daewoo E&C, a company located in South Korea, can each hold ships up to 23,000 twenty-foot equivalent units (TEU). With 100 berths and the capacity to handle 7.5 million TEU annually, the Al-Faw Grand Port is expected to surpass Dubai's 67-berth Jebel Ali as the largest container port in the Middle East when finished in 2038. Four million TEU of containers may be handled annually by the port's first phase, which is anticipated to be finished in 2028. The $7 billion logistics project, which connects Basra to Turkey via an overland route, will compete with Egypt's Suez Canal and establish Basra as a gateway to Europe. The Development Road is a strategic initiative aimed at connecting Asia and Europe via gas and oil pipelines, train networks, and highways.
Iraq Business
21-05-2025
- Business
- Iraq Business
Iraq's Ports Generate $240m in Q1 2025
By John Lee. Iraq's ports have recorded strong financial performance in the first quarter of 2025, generating total revenues exceeding 314 billion Iraqi dinars [$240 million], according to Dr Eng. Farhan Al-Fartousi, Director General of the General Company for Ports of Iraq (GCPI). Monthly revenues were as follows: January: 109.27 billion dinars February: 98.74 billion dinars March: 106.33 billion dinars The figures encompass revenues from North and South Umm Qasr Ports, Khor Al-Zubair, Abu Flous, and offshore oil terminals. Al-Fartousi noted that these numbers reflect the success of operational and logistical upgrades, including enhanced cargo handling, expanded infrastructure, and modern digital systems designed to streamline clearance processes and reduce delays. Looking ahead, the GCPI plans to modernise port berths, expand storage yards, and further integrate advanced technology to meet the growing demand for import-export services. (Source: GCPI)
Shafaq News
17-05-2025
- Business
- Shafaq News
Iraq's Development Road +$4B trade corridor finalized
Shafaq News/ Iraq completed the first section of the Development Road project and began the handover process, the General Company for Ports announced on Saturday. Company Director Farhan Al-Fartousi told Shafaq News that the road is being built with three lanes designated for heavy trucks and cargo. 'The first section of the road stretches from Grand Al-Faw Port to the submerged tunnel, covering 51 kilometers, and then continues from the tunnel to the main Safwan road for an additional 11 kilometers, bringing the total length of this segment to 62 km,' he explained. The project includes two major bridges—one measuring 805 meters and the other 300 meters in length. The road will also be equipped with a solar-powered lighting system implemented by Samsung, aimed at providing sustainable energy and advanced technology. Last month, Turkish Transport and Infrastructure Minister Abdulkadir Uraloglu announced that Turkiye plans to finalize an agreement with Iraq 'very soon' on the Development Road project. The Grand Al-Faw Port is a strategic megaproject located on Al-Faw Peninsula in Basra province, southern Iraq. It aims to transform the country into a regional trade hub by connecting it to global transport networks. The port project is estimated to cost around $4.6B and spans 54 square km. It is expected to have a capacity of 99M tons annually, positioning it among the largest ports in the Gulf and the tenth largest globally.
Shafaq News
12-05-2025
- Business
- Shafaq News
Iraq's seaports generate +$215M in revenue in 2025 Q1
Shafaq News/ Iraq's seaports generated over 314 billion Iraqi dinars in revenue during the first quarter of 2025, the General Company for Ports of Iraq announced on Monday. Director General Farhan Al-Fartousi stated that total earnings from January through March reached 314.33B IQD (about $215.3M), with monthly revenues of 109.26B IQD in January ($74.6M), 98.73B IQD in February ($67.4M), and 106.33B IQD in March ($73M), crediting the gains to robust activity at major ports, including North and South Umm Qasr, Khor Al-Zubair, Abu Flous, and various oil export terminals. 'These figures reflect the impact of our ongoing development strategy to modernize maritime trade infrastructure,' Al-Fartousi remarked, highlighting enhanced cargo handling capacity, upgraded logistics systems, and expanded port facilities as key contributors. He added that the company remains committed to its broader expansion agenda, which includes modernizing berths, enlarging cargo storage areas, and implementing digital platforms to streamline customs and clearance procedures. 'Our broader goal is to strengthen Iraq's position on the regional and global maritime transport map.'
Shafaq News
12-05-2025
- Business
- Shafaq News
Khor al-Zubair Q1 oil tankers surpass 200
Shafaq News/ Iraq's Khor al-Zubair Oil Port received 207 oil tankers in the first quarter of 2025, the General Company for Ports of Iraq announced on Monday. Director General Farhan Al-Fartousi told Shafaq News Agency that the port successfully facilitated marine services, berthing, fuel loading, and cargo handling for all arriving vessels. 'All operations were executed efficiently under the oversight of the maritime control unit.' In February, Al-Fartousi also announced an 'unprecedented' achievement in Iraq's history—namely, the adoption of a certified IMSAS (IMO Member State Audit Scheme) system, approved by the International Maritime Organization (IMO).
