Agreement to develop Al Faw Grand Port and Economic Zone in Iraq
(Posted on 15/04/24)
AD Ports Group, Abu Dhabi based facilitator of global trade, logistics and industry, has entered into a preliminary agreement with the General Company for Ports of Iraq (“GCPI”). Under the terms of the agreement, both parties will establish a joint venture to develop Al-Faw Grand Port and its economic zone, as well as any future expansion. Furthermore, the agreement also encompasses the potential investment, management, and operation of ports, economic zones, and related infrastructure in other cities in the Republic of Iraq.
The agreement was signed in the presence of His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, by Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group, and Dr. Eng. Farhan Muhesen Al Fartosi, Director General of the General Company for Ports of Iraq.
This signing follows a Memorandum of Understanding (MoU) inked by the two parties in September 2021, and the subsequent addendum, signed in August 2023, to intensify cooperation. The venture is set to bring together the expertise of both entities to attract international terminal operators, foster global trade relations, and develop commercial sea corridors, contributing to Iraq's economic growth.
The preliminary agreement aims to provide the necessary expertise for Al-Faw Port and Economic Zone, using advanced management and operating models, in addition to studying the mechanism of developing, financing, managing, operating and maintaining the project, with an aim to enhance overall efficiency and operational capabilities.
Both parties will explore investment opportunities and conduct the necessary feasibility studies related to ports, economic zones and other infrastructure under the General Company for Ports of Iraq.
His Excellency Mr. Razzaq Muhaibas Al-Saadawi, Iraq’s Minister of Transport, said: “Al Faw Grand Port and Economic Zone project is of great importance to the Iraqi government, which is committed to implementing the project in line with the highest global standards, in cooperation with our partners in the UAE and AD Ports Group. We have provided all the necessary solutions to ensure the success of the project, which aims to significantly contribute to local and regional economies. Moreover, combined with the development road project, Iraq’s most prominent economic and logistics development, this project will strengthen maritime transport and freight shipping between Asia and Europe.”
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, said: “The agreement signed today between AD Ports Group and the General Company for Ports of Iraq, is in line with the directives of our wise leadership towards strengthening economic ties and increasing bilateral trade volumes between the two countries, in combination with associated agreements aimed towards the establishment of mutual growth platforms for business and private sectors, through exploring cooperation opportunities that drive mutual benefit in key industries.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: "We are pleased to reinforce our partnership with the Iraqi Ministry of Transportation, represented by the General Company for Ports of Iraq. The expansion of our collaboration demonstrates our commitment to strengthening relations between both our countries in line with our wise leadership’s vision for strategic global trade and logistics growth that further boosts economic development and diversification in the region and beyond."
Latest News
Rotterdam throughput falls in first nine months of 2025
(Posted on 04/11/25)Total throughput in the port of Rotterdam fell slightly by 2.6% in the third quarter of 2025 compared... Read more
Bayan, Indonesia, reaches 100,000 operating hours
(Posted on 04/11/25)E-Crane Asia has announced a major milestone achieved by Bayan in Indonesia: the company’s three... Read more
Teesport automated weighbridges boost bulk cargo efficiency
(Posted on 27/10/25)PD Ports has successfully introduced fully automated weighbridge systems at Teesport and Hartlepool,... Read more
Mixed picture for Antwerp-Bruges in volatile trade climate
(Posted on 24/10/25)In the first nine months of 2025, Port of Antwerp-Bruges handled 202.6 million tonnes of maritime goods... Read more
NPRC presents strategic course at 90th anniversary assembly
(Posted on 20/10/25)The 90th General Assembly of the inland shipping cooperative NPRC has highlighted the importance of... Read more
Bilbao leads in transparency among Spanish ports
(Posted on 17/10/25)The Bilbao Port Authority has obtained the highest score in the second evaluation of the Mandatory Information... Read more
Embassy reception highlights Hamburg – Czech Republic partnership
(Posted on 14/10/25)The economic and logistical ties between the Czech Republic and Hamburg were brought to the attention... Read more
Italian ports expand capabilities with Liebherr
(Posted on 08/10/25)Liebherr has dispatched four additional mobile harbour cranes to Italy, reaffirming its role in the... Read more
Euroports celebrates 25-year Terminal Rinfuse Venezia concession
(Posted on 08/10/25)Euroports, Europe’s largest port infrastructure operator, has celebrated its new strategic 25-... Read more
PhilaPort acquires 152-acre Mustin Yard
(Posted on 07/10/25)PhilaPort has announced that it has acquired the Mustin Yard Property from Norfolk Southern Corporation... Read more
