Daewoo E&C Meets with Iraq's Minister of Transportation... A Stepping Stone for Business Expansion

Daewoo E&C President Baek Jeong-wan (left) shaking hands with Iraq's Al-Sibli Minister of Transportation

Daewoo E&C announced on the 24th that on the 22nd, President Baek Jeong-wan met with Iraqi Minister of Transportation H.E. Nasser Hussein AL-SHIBLI, who visited Korea at the invitation of the Minister of Oceans and Fisheries (Moon Seong-hyeok), along with the President of the Port Authority and the Chief of Naval Staff.

President Baek explained the progress of the mega project, Al Faw Port construction, currently being carried out locally, and promised its successful completion.

Minister AL-SHIBLI said, "We appreciate Daewoo E&C leading the construction of Iraq's port infrastructure despite the difficult environment in Iraq," adding, "During this visit, we are pleased to receive Korean-style port construction and operation know-how through the seminar with the Al Faw Port Operation Consulting Team, which includes the Ministry of Oceans and Fisheries and Daewoo E&C." He further stated, "We expect Daewoo E&C to play the role of a Total Solution Provider, not only in construction but also in port operation."

The Iraqi government has established and is promoting a master plan to develop Al Faw Port, located in Basrah province in southern Iraq, into one of the world's top 12 ports by 2041, with a total project cost of 53 trillion KRW. Since February 2014, Daewoo E&C has secured nine contracts worth approximately 3.78 billion USD in the Al Faw port project, including the Al Faw breakwater, which marked the start of the project, container terminal quay wall construction (510 million USD), container terminal dredging and reclamation (720 million USD), Al Faw-Um Qasr connecting road (440 million USD), main navigation channel (310 million USD), and the main construction of the submerged tunnel at Khor Al Jubair (630 million USD).

The Iraqi delegation included eight officials such as Farhan Al-Fartousi, President of the Iraqi Port Authority, the client of the Al Faw port project carried out by Daewoo E&C, and Hamid Resan Alawi Behadiri, Chief of Naval Staff. The delegation toured Seoul and Busan from March 21 to 25 for four nights and five days, meeting with the Minister of Oceans and Fisheries, executives of Jungheung Group and Daewoo E&C, and inspecting Busan New Port, Jinhae Jangbogo Naval Base, and the submerged tunnel of the Geoga Bridge, which Daewoo E&C constructed for the first time in Korea.

On the afternoon of the 22nd, Minister AL-SHIBLI discussed bilateral cooperation on marine development and port operation with Minister Moon Seong-hyeok of the Ministry of Oceans and Fisheries. Additionally, on the 23rd, the Iraqi delegation attended the 'Al Faw Grand Port Operation Consulting Seminar,' jointly prepared by the Al Faw Port Operation Consulting Team and Daewoo E&C with support from the Ministry of Oceans and Fisheries.

A Daewoo E&C official stated, "Taking this opportunity of the visit by key Iraqi figures, we plan to further strengthen trust with the Iraqi government and clients," and added, "We will actively participate in future Iraqi infrastructure projects."

This content was produced with the assistance of AI translation services.