ICTSI has announced plans for a long-term partnership with the Iraqi Port Authority (IPA) to expand Umm Qasr Port’s cargo handling capacity and promote Iraq’s role in international trade.
Located on Iraq’s Gulf coast, Umm Qasr is the main gateway to the Iraqi market, handling a variable amount of produce, including both liquid and dry bulk, general cargo and containers.
The port has a total quay length of 5,000-metres and last year throughput totalled 500,000 TEU.
ICTSI, in partnership with the Iraqi government, hopes to unlock the untapped economical potential in the region by designing the “port facilities of the future.”
With an initial investment exceeding $130 million, ICTSI plans to complete a series of projects aimed at greatly increasing productivity at the port.
Works include a new 200-metre quay wall and storage yard, increasing capacity by an extra 300,000 TEU to allow the port to handle 900,000 TEU per annum.
ICTSI are also expected to operate and manage all operations at the existing container terminal located at Berth 20.
Speaking of the announcement, ICTSI chairman and president, Enrique K. Razon Jr. said “this is by far the largest ever private investment in Iraqi ports. We are excited about this opportunity and we would like to thank the government of Iraq for their continued support in this endeavour.”