American Company to Modernize Historic Iraq Port

Press Release
Wednesday, October 03, 2012

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. “The modernization of Maqal Port is an important step in helping Basra regain its status as a key regional trading hub.”

With Umm Qasr Port, Iraq’s only other modern port, some 40 miles away from downtown Basra, this venture will provide a full spectrum of companies representing Basra’s merchant community and industrial base with close, convenient accessibility to a world-class, containerized berth.

“Modernizing Maqal Port is one step in Iraq’s greater vision to improve and expand our country’s shipping and port capabilities,” said Hadi Al-Amiri, Iraq’s minister of transportation. “Having an American company like NAWAH commit to our country’s long-term economic growth sends a strong message to other American and international investors that Iraq is truly ripe for investment.”

 

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

NZ Interislander Ferry to Dry-dock in Devonport

NewZealand's KiwiRail says that the Interislander ferry Arahura has left Wellington for her scheduled bi-annual dry-docking in Devonport, having last visited Auckland in July 2012.

Ports

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council.

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Middle East

Iraqi Kurdistan Oil Shipments Reach 8.8m Barrels

Iraqi Kurdistan has shipped 8.8 million barrels of oil from the Turkish port of Ceyhan since May, Turkish Energy Minister Taner Yildiz said, as the autonomous region

ISS Celebrates ISO Accreditation in M.East and Africa

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, is celebrating the awards of ISO 22000:2005 – Food Safety Management System and

SBI Offshore Negotiating Contract for Rig Builds

SBI Offshore Limited has announced that the Middle East-Chinese consortium, which recently awarded its subsidiary a contract to provide design and engineering services for a jack-up drilling rig,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1177 sec (8 req/sec)