North America Western Asia Holdings (NAWAH), an investment specialist for Iraq, the Middle East, North Africa, and Asia, is expanding and modernising the historic Port of Basra, in collaboration with the Iraqi government, it has been reported.
NAWAH has made a multi-million dollar investment to create a modern, containerised terminal at the port’s Berth 14 that will be operated by NAWAH Port Management (NPM).
NPM recently announced it had entered into a formal agreement with Iraq’s Ministry of Transportation and the General Company for Ports of Iraq to quadruple the size of its terminal operations.
According to Ali Hazim, business owner and major trader of Basra, “Basra is one of the most dynamic, fastest growing cities in the Arabian Gulf.
“Having state-of-the-art, customer focused shipping and logistics capabilities conveniently located in downtown Basra will be key to supporting our city’s continued growth.”
Paul Brinkley, NAWAH’s president and CEO said: “We are immensely proud to be working hand in hand with our Iraqi partners to further Basra’s growth and [its] re-emergence as a strategic trading centre, bridging East and West.”
He added: “Beyond our goal to create a world-class port operation, we are deeply committed to building local talent and we’ve already demonstrated that through our staff.”
NPM has exported more than 4,100 metric tonnes in 250 containers from its terminal at the Port of Basra to the United Arab Emirates.