Daewoo E&C secures $2.6bn port construction deal in Iraq

South Korea’s Daewoo Engineering & Construction has signed a deal to build the first phase of the Faw commercial port in the south of Iraq.

Under the $2.62bn contract, Daewoo E&C’s construction work including building five berths and a container yard as well as all dredging and drilling works.

The first phase of the port is expected to have a container capacity of 3m teu and allow it to receive the largest containerships. 

Construction is scheduled to be completed in four years, and currently Iraq’s main commercial shipping activities are handled by Umm Qasr port.