Preliminary designs completed for $24B Iraq-Turkiye Development Road Project: Global Construction
Shafaq News/ The first engineering designs for the Development Road Project, which will link Iraq and Turkiye, have been completed, the London-based "Global Construction Review" affirmed in a report.
According to the report, the project’s design includes a 1,200-kilometer motorway between Iraq and Turkiye, aimed at boosting the economic corridor between the PersianGulf and the Mediterranean Sea.
The report also highlighted that the project would include a railway and an oil pipeline, with estimates indicating that Turkiye and Iraq plan to invest $24 billion in the corridor.
Qatar and the UAE have joined talks to invest in the project, which revolves around Al-Faw Port, Iraq's only deep-water port capable of handling large ships and containers.
Currently, the Port is undergoing a $2.6 billion modernizationby South Korea’s Daewoo E&C. “A five-berth container terminal with an initial capacity of 3.5 million containers a year is expected to open for business in 2025, with full completion to follow in 2028,” the report said.
Supporters of the project hope that the road between Al-Faw and Istanbul will serve as “a new artery for global trade,” potentially bypassing the Suez Canal and reducing shipping time between China and Europe by two weeks.
“The Development Road would follow the Euphrates River from Basra to Nasiriyah, passing through the Shia pilgrimage cities of Najaf and Karbala, and continuing to Baghdad and Mosul,” the report pointed out. “From there, it would reach the southern Turkish border city of Mersin before finally extending to Istanbul and Europe.”
Furthermore, the report noted that construction of the project is set to begin in 2025, with completion expected in three phases: in 2028, 2033, and 2050. However, “progress would depend on Iraq and Turkiye resolving a number of political disputes.”
Among the key issues are the Kurdistan Workers’ Party (PKK) and Turkiye’s use of water from the Tigris and Euphrates rivers, “which Iraq says is hurting its irrigation-dependent agriculture,” the report confirmed.
Development Road Project
Iraq’s Development Road project, officially launched during Turkish President Tayyip Erdogan's visit to Baghdad in April, is set to become a cornerstone of regional trade and economic growth. Earlier, Iraqi Prime Minister Mohammed Shia Al-Sudani stated that the vital Road project "will transform Iraq from a landlocked country to an open one."
The project features a 1,275-kilometer (792-mile) rail and road network designed to streamline the movement of goods between Europe and the Gulf region. It is anticipated to significantly reduce trade costs between China and Europe, with energy playing a crucial role due to Iraq's substantial oil reserves.
Iraq holds approximately 10% of global oil reserves and contributes 5% of global production. This strategic advantage is expected to enhance the project's impact on regional trade.
The investment budget for the project is estimated at $17 billion, with $6.5 billion allocated for highways and $10.5 billion designated for an electrified railway.
In addition to transforming regional trade dynamics, the Development Road Project is forecasted to create 100,000 jobs in its first phase and potentially up to one million jobs upon completion.
