General Company News

Iraq agreed a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.Under the contract, signed in Baghdad by representatives of Iraq’s transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building five berths to unload ships and a yard for containers.Daweoo will also carry out dredging and drilling works to create an access navigation channel, Farhan al-Fartousi, Iraq’s director general at the General Company for Ports, tol

Iraq's government has agreed to sign a $2.625 billion contract with South Korea's Daewoo Engineering & Construction to build the first phase of a giant cargo port in the south of the country, a port manager said on Wednesday.The long-planned and repeatedly delayed Grand Faw port is one of several projects that Iraq hopes will create a shorter transportation corridor between the Middle East and Europe, bypassing the Suez Canal.Under the contract, expected to be signed on Sunday, Daewoo E&C will handle construction works that include building five berths to unload ships and a yard for containers

Philippines-based International Terminal Container Services Inc. (ICTSI) formally inaugurated two new berths in the port of Umm Qasr, Iraq’s main dry cargo port.The inauguration marked both the opening for business of the two new berths 25 and 26 with a depth of 14 meters, and the completion of ICTSI’s overall $250m investment program at its Basra Gateway Terminal (BGT) making the port capable of receiving box ships of up 14,000 teu.Located in Umm Qasr’s North Port, BGT operates a high capacity container terminal together with specialized facilities for the handling of general cargo, ro-ro, dry bulk and project cargo for the oil and gas sector.Earlier development included the construction of Berth 27…

Egypt inked a $14 million agreement with the OPEC Fund for International Development (OFID) to build two wheat silos in Port Said, the cabinet said on Wednesday.The project aims to raise Egypt's port storage capacity for imported wheat by around 15%, Supply Minister Ali Moselhy said.The General Company for Silos and Storage will execute the project, he said, which aims to ease pressure on silos in Damietta and Alexandria.The government also hopes the new silos will reduce transport times between ports and storage facilities.Egypt's investment ministry cited OFID Director-General Abdulhamid Alk

The leader of Shipbuilding Industry in Sri Lanka Colombo Dockyard PLC (CDPLC) has successfully secured a contract with Toyota Tsusho Corporation (TTC) of Japan to build two vessels; Pilot Station Vessel and Buoy Tender Vessel, for General Company for Port of Iraq (GCPI). TTC and GCPI signed the Prime Contract on 27th April 2018 in Dubai. Subsequent to the signing of the Prime Contract, TTC signed the Sub Contract Agreement with CDPLC as TTC’s preferred Shipyard for the construction of these vessels on 2nd May 2018 in Japan. TTC is a trading and investing company which is also a group company of TOYOTA. By recognizing the potential of CDPLC, TTC decided to collaborate with CDPLC for this project to compete and submit bid proposals in response to a tender floated by GCPI in July 2017.

International Container Terminal Services, Inc. (ICTSI) formally opened the first phase of its new greenfield terminal development at its Basra Gateway Terminal in the North Port, Umm Qasr, Iraq. The official inauguration of the new facility marks the implementation of the first entirely foreign financed development of new port infrastructure in Iraq. The Hon. Minister of Transport for Iraq, Kadhem Finjan al-Hamami was in attendance as Enrique K. Razon Jr, ICTSI Chairman and President, formally cut the ribbon, symbolizing the opening of the terminal after which the first container was lifted by one of the two new ship-to-shore cranes installed at the terminal. Also present at the ceremony were Dr. Majid M.

Terex Port Solutions (TPS) has received an order from a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Iraq for two Terex shiptoshore cranes (STS) and three Terex rubber-tyred gantry cranes (RTG). With this order including comprehensive services, TPS and ICTSI, a leading global port operator, are writing the next chapter in the history of their successful cooperation. Previously TPS has supplied 24 RTG to three different terminals operated by ICTSI in Madagascar, the Philippines and Brazil. The new cranes are destined for the Basra Gateway Terminal in the port of Umm Qasr and will be handed over to ICTSI for commercial operation in the second quarter of 2016. country.

Enrique K. Razon Jr., International Container Terminal Services Inc.(ICTSI) chairman and president, recently visited Basra Gateway Terminal (BGT), ICTSI’s subsidiary in the port of Umm Qasr, Iraq. Razon personally inspected the continuing upgrade works in Berth 20, the existing facility in Umm Qasr’s North Port where ICTSI started operations in November 2014. He also inspected the piling works taking place opposite ICTSI’s existing terminal where ICTSI is investing in the development of an entirely new state-of-the-art container/multi-purpose facility. Overall, ICTSI is committed to invest US$130 million to upgrade terminal facilities and capacity in order to meet the latest requirements of port users in the port of Umm Qasr.

International Container Terminal Services, Inc. (ICTSI) has paid $5.8 million for the remaining 10 percent of Victoria International Container Terminal (VICT) it doesn’t own that was held by Anglo Ports. ICTSI now fully controls VICT, who in 2014 signed a $509m agreement to design, build, commission, operate, maintain and finance the Port of Melbourne’s new international container terminal. The new container terminal is part of Melbourne’s us$1.5 billion port capacity project, which the port believes is vital for economic growth in the Australian state of Victoria. Meanwhile, Basra Gateway Terminal (BGT), a wholly-owned subsidiary of ICTSI Inc., said operations at the Port of Umm Qasr in Iraq are now in full swing.

NAWAH Port Management (NPM), a business unit of North America Western Asia Holdings (NAWAH), in partnership with the General Company for Ports of Iraq, has launched the first phase of a containerized terminal at Al Maqal Port, also known as the Port of Basra. The opening ceremony marked the completion of an essential yearlong phase for NAWAH and the modernization project for Al Maqal, culminating in the initiation of commercial operations at the newly containerized Berth 14. This…

North America Western Asia Holdings (NAWAH) agrees to modernize Maqal Port, located in Basra’s urban center on the Shatt al Arab waterway. The formal agreement is between Iraq’s Ministry of Transportation, the General Company for the Ports of Iraq, and NAWAH. As part of the agreement, the American company will invest more than $14 million to bring both heavy-lift crane and container handling capabilities to the 93-year-old port. NAWAH will also build a modern container yard adjacent to the port’s berth 14. The company’s agreement with GCPI will extend 10 years. “The speed at which Iraq can rebuild and become prosperous is greatly dependent upon the capacity of its ports,” said Paul Brinkley, NAWAH’s president and CEO.

Successful launch ceremonies for DOHUK and KARBALA by IHC Merwede. IHC Merwede has successfully launched the 500m3 grab hopper dredger, DOHUK, and the 3,500m3 trailing suction hopper dredger, KARBALA, in two ceremonies on 25 July 2012 at the company’s shipyard in Krimpen aan den IJssel, The Netherlands. The DOHUK was launched early in the morning, followed later by the ceremony for the KARBALA. The vessels were named by breaking a jar of yoghurt over the bow. They are being built for Toyota Tsusho Corporation, although the operator will be the General Company for Ports of Iraq (GCPI).