Iraq has announced a $17 billion project that will connect Asia and Europe.
The project will increase regional cooperation and economic opportunities.
In a one-day conference in Baghdad, the transport ministers of the Gulf Cooperation Organization (GCC) countries, Iran, Turkey, Syria and Jordan discussed the ‘Development Road’ project.
This massive infrastructure project will connect southern Iraq to the Turkish border and beyond to Europe’s railway track and road network.
Addressing the conference, Iraqi Prime Minister Mohammad Shia al-Sudani said that the project will provide an economic line and connect history and cultures to create a region where anyone can invest.
“Your presence here today in a stable and secure Baghdad is full of opportunities and intentions, and through this we will find solutions,” he said.
The project includes a 1,200 km long two-way rail network, a new motorway will also be constructed for passengers and goods departing from Alfa port.
It will connect the port on its southern coast with roads and railway tracks to the border with Turkey.
Logistics centers and industrial cities will also be built along the network.
The Iraqi government has estimated the project at $17 billion, which will generate $4 billion in annual revenue and create nearly 100,000 jobs.
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