Prime Minister Mohammed Shia al-Sudani said on Saturday that the vital development road project is not only a corridor for transporting goods, but also includes projects that “will transform Iraq from a landlocked country to an open one.”
This came during his hosting of a dialogue seminar on the development road project and the investment opportunities available in this field, which was held in the capital, Baghdad.
Al-Sudani said during the symposium, “The development road is not a corridor for transporting goods as some imagine,” adding that “there are projects along this road.”
He added that this project will transform Iraq from a landlocked country into an open country, and will help bring the sea into the middle of Iraq to reach Turkey and Europe.
Al-Sudani also pointed out that the existing corridor, which is under design and study, includes corridors for transporting oil and gas, connecting communications, and establishing industrial cities.
According to Al-Sudani, “due to the circumstances that occurred in the Red Sea, we approached the World Bank to begin implementing the development road project from the old road,” stressing that countries in the European Union expressed their desire to participate in implementing the development road project.
Providing job opportunities
Al-Sudani stressed that the development road project, the Faw port, or the new economic and industrial city, along with the residential city, the railways, road and industrial cities project, will create a second Iraq. These are a set of projects that provide job opportunities for graduates and job seekers.
Iraq’s housing needs
The Prime Minister stated that Iraq needs two and a half to three million housing units and needs projects to provide its needs for construction supplies.
Iraq’s return to industry
The Prime Minister pledged to restore Iraq to its leading role in the field of local industry as it was in the sixties of the last century, and to attract people to work in private sector projects.
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Path project, as the four countries will work to establish the necessary frameworks for implementing the project, according to a statement issued by the Prime Minister’s Office.
The strategic project of the development road is expected to contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between the East and the West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It is worth noting that the “Development Road” project is a land and railway road extending from Iraq to Turkey and its ports. The length of the road and railway is 1,200 kilometers inside Iraq, and it aims primarily to transport goods between Europe and the Gulf countries.
The project’s investment budget amounts to about 17 billion US dollars, of which 6.5 billion is for the expressway, and 10.5 billion for the electric train. It will be completed in 3 phases, the first ending in 2028, the second in 2033, and the third in 2050.
The project is expected to provide about 100,000 job opportunities in the first phase, and one million job opportunities after its completion.
shafaq.com
