Latest news with #NasserAl-Asadi
Iraqi News
25-06-2025
- Business
- Iraqi News
Iraq's aviation sector charts recovery and ambitious future after regional conflict
Baghdad ( – In the wake of the recent regional conflict that saw its airspace closed for 12 days, Iraq is not only focused on immediate recovery but is also pushing forward with an ambitious, multi-faceted strategy to fundamentally overhaul its aviation sector. The plan includes a billion-dollar development project for Baghdad's main airport and a strategic modernization of its national airline, according to Nasser Al-Asadi, the Prime Minister's Advisor for Transport Affairs. Al-Asadi confirmed the government has officially launched the project to develop Baghdad International Airport, noting it has not undergone any significant modernization in over 40 years. In a major shift in approach, the project is being structured as an investment opportunity to attract world-class private operators. To ensure global standards, the government has tasked the International Finance Corporation (IFC), part of the World Bank Group, as the lead consultant for the development and operation project. 'We have received the final offers from companies… and we are now in the evaluation stage, with the winning company to be selected in September,' Al-Asadi stated. The expected investment for this massive undertaking is approximately $1 billion. Parallel to the airport's development is the modernization of the national carrier, Iraqi Airways. Al-Asadi detailed the progress in updating the fleet, which now includes five new Airbus A220 aircraft and the first two of five Boeing Dreamliner 787s. However, a critical hurdle remains: the European flight ban currently imposed on the airline. Al-Asadi stressed that the airline is awaiting the lifting of this ban, which is essential for its plans to expand its route network. Once lifted, the airline will re-evaluate its needs before entering into new aircraft acquisition deals. Addressing the immediate aftermath of the recent 12-day Iran-Israel-US conflict, Al-Asadi acknowledged that air traffic was directly impacted, with flights halted based on security protocols. He highlighted the crucial role Basra International Airport played during the crisis, successfully handling all incoming international flights and enabling a smooth restoration of passenger movement. 'We hope after the end of the war that we can restore Iraq's airspace [as an overflight corridor], as it represents an important economic resource for the state,' he said. With flights now being gradually rescheduled, the focus is on a full return to normalcy while building a more resilient and modern future for the sector.
Iraqi News
22-04-2025
- Business
- Iraqi News
Government meeting discusses Baghdad's economic projects within Development Road
A meeting attended by Baghdad Governor Abdul Mutalib Al-Alawi on Tuesday discussed Baghdad's economic projects within the Development Road project. "Baghdad Governor Abdul Mutalib Al-Alawi chaired an expanded meeting to discuss the visions and economic projects for the capital within the Development Road project," said the Baghdad Governorate in a statement - received by the Iraqi News Agency - INA. The meeting, which was attended by the PM's Advisor for Transportation Affairs, Nasser Al-Asadi, representatives of the consulting company, the project manager, and relevant authorities in Baghdad Governorate, discussed the establishment of economic centers, in addition to entertainment, tourism, and commercial projects along the road that passes through Baghdad and extends to neighboring governorates such as Babil and Anbar. Al-Alawi confirmed that "an agreement was reached to organize a workshop next week with the participation of relevant sectoral entities, along with the Al-Nahrain Center for Studies, the Center for Urban and Regional Planning, the Advisory Board at the PM's Office, and relevant centers to present proposals and visions supporting the project."
Iraq Business
07-04-2025
- Business
- Iraq Business
100% Iraqi-Owned Company to manage Development Road Project
By John Lee. The Prime Minister's Advisor for Transportation Affairs has announced that the Development Road Project will be managed by a new 100% Iraqi-owned company, reporting directly to the Prime Minister. Speaking to the state-run Iraqi News Agency (INA) , Nasser Al-Asadi explained that during a recent meeting of the Higher Committee for the Development Road, a comprehensive study was conducted on the most appropriate legal structure to manage the project. Various options were considered, including establishing a company, authority, or other legal entity. The final decision is to form an independent private company under the Companies Law, which will: Oversee all financial, engineering, economic, and investment aspects of the project; Operate independently of the Ministry of Transport; Have its own laws and regulations; Handle any investment shares related to the project. Al-Asadi underlined the strategic nature of the Development Road, describing it as a global project requiring a dedicated entity to ensure effective and transparent management. (Source: INA) Tags: cg, development road project, featured, Infrastructure
Iraqi News
04-04-2025
- Business
- Iraqi News
Government Advisor: The private firm managing the development road project is entirely Iraqi
Nasser Al-Asadi, the Prime Minister's Advisor for Transportation Affairs, explained on Friday the duties of the company managing the Development Road Project, stressing that this company will be 100% Iraqi and report directly to the Prime Minister. Al-Asadi told the Iraqi News Agency (INA): "At the meeting of the Higher Committee for the Development Road, a study was conducted to establish a company, authority, or any legal formula for the Development Road Project, considering it a global project." He noted that "several possibilities were studied by the consultant and members of the Advisory Committee, and the conclusion was reached that there will be a private company to manage the project. It will be 100% Iraqi and will be responsible for all financial, engineering, economic, and investment aspects." He added, "This company will be established under the Companies Law and will manage the project. It will not be affiliated with the Ministry of Transport. Rather, it will be an independent private company reporting directly to the Prime Minister. It will have its own laws and regulations and will be responsible for existing investments. If the project is offered as shares, this company will be responsible for the shares."
