Wednesday, August 28, 2024
DINAR REVALUATION REPORT: AL-FAW PORT : A SIGNIFICANT STEP FORWARD IN IRAQ'S STRATEGIC VISION FOR ECONOMIC DEVELOPMENT & REGIONAL INTEGRATIONK 28 AUGUST
Al-Sudani Announces Completion Date for First Phase of Al-Faw Port: A Qualitative Addition to the Region
In a significant development for Iraq's infrastructure and economy, Prime Minister Mohammed S. Al Sudani has announced the completion date for the first phase of the Grand Al-Faw Port. The project, a cornerstone of the Development Road initiative, is set to be operational by mid-2025. marking a milestone in Iraq's vision to transform into a regional trade and development hub.
Strategic Vision and Economic Impact
The Grand Al-Faw Port, located at the mouth of the Shatt al-Arab, where the Euphrates and Tigris rivers meet before flowing into the Persian Gulf, is poised to be the Middle East’s largest port. Its construction, led by South Korean Daewoo with a $5 billion agreement, spans a vast area of 54 square kilometers (33.5 square miles). Farhan al-Fartousi, the director general of the General Company for Ports of Iraq, highlighted the port's planned facilities, including oil and gas refineries, industrial sites, and tourism venues, as well as its impressive capacity of 90 docks.
The project's strategic vision extends beyond mere infrastructure development. It aims to revitalize Basra and establish it as a central trade and development node. With a phased completion timeline extending to 2030, 2038, and finally 2050, the port's full operational readiness will coincide with the completion of its supporting facilities, heralding a new era of economic prosperity for Iraq.
Key Economic Projects
In a significant move, Prime Minister Al-Sudani emphasized the importance of the Al-Faw Integrated Oil Refinery Project, which is part of the government’s plan to enhance oil refining capacities and attract foreign investments. The contract for this project was signed between the Ministry of Oil/South Refineries Company and China National Chemical Engineering (CNCEC). With a refining capacity of 300,000 barrels per day and adherence to global environmental standards, the project will utilize modern technology to provide petroleum derivatives for local consumption and export.
The refinery project will be executed in two phases: the first focusing on refining operations, and the second on constructing a petrochemical complex with a capacity of 3 million tons per year, alongside a 2000 MW power plant. Additionally, the establishment of the Al-Faw Oil Refinery Technology Academy will train 5,000 Iraqi personnel to manage the refinery in the future, creating jobs for young people and graduates, and stimulating local industries.
Regional and International Cooperation
The Development Road project, which encompasses the Grand Al-Faw Port, received a boost with a preliminary agreement between Iraq, Türkiye, Qatar, and the United Arab Emirates (UAE). The $17 billion project involves linking a major commodities port on Iraq's southern coast by rail and road to the border with Türkiye. The 1,200-kilometer (745-mile) infrastructure aims to position Iraq as a transit hub, connecting Asia and Europe and enhancing regional economic ties.
Conclusion
The completion of the first phase of the Grand Al-Faw Port by mid-2025 represents a significant step forward in Iraq's strategic vision for economic development and regional integration. With its potential to create jobs, stimulate industries, and position Iraq as a central trade hub, the project embodies the country's aspirations for a prosperous future.
Al-Sudani announces the completion date of the first phase of Al-Faw Port: It will be a qualitative addition to the region, 28 AUGUST
He explained that his government started two years ago with an ambitious program and priorities in working with a ministerial and advisory team, especially in development and the economy, based on the strengths that distinguish Iraq in terms of its natural and human resources, stressing that Iraq represents an important market with an increasing growth rate as a result of its important geographical location in a vital region of the world.
The Prime Minister stressed that Iraq has received major Egyptian investors in infrastructure and residential city projects, the implementation of which will start soon, noting that the doors are open to Egyptian businessmen and companies, whose presence in Iraq is important to us, due to their successful experiences, and within a political direction to lead the two countries towards more cooperation and integration.
The Prime Minister stressed that the government is launching investment opportunities in all industries, modernizing production lines, and the principle of partnership between the public and private sectors, and that a group of industrial cities have been identified within Iraq, in conjunction with the Development Road Project, as an important strategic project, and today we have partnerships with Qatar, Turkey and the Emirates regarding this project, and that the first phase of the Faw Port will be completed by the end of 2025, and it will be a qualitative addition to the region, along with the largest industrial city.
For their part, Egyptian businessmen and companies expressed their readiness to work in Iraq in various fields, including the development road project, the pharmaceutical industry, hospitals, infrastructure and construction industries. They also spoke about the existence of promising partnerships between the Iraqi and Egyptian private sectors.
WE'RE AWAITING SEVERAL EVENTS OVER THE NEXT 4 WEEKS TO OCCUR BY JON DOWLING, 28 AUGUST
Jon Dowling
Cue the song by Europe- The final countdown! We're awaiting several events over the next four weeks to occur.
Namely XRP to be fully released by the SEC that they will not appeal the case.
The Dinar to reinstate,
cryptos to start the bull cycle after the fifty basis point interest rate starts on September 18th and the deep state tries to arrest President Trump.
Putin annihilates Ukraine with the MOAB and then runs with XI into Taiwan for the China Taiwan short invasion. Exciting times just around the corner.
DINAR REVALUATION REPORT REGARDING NATO & IRAQ , 28 AUGUST
DINAR REVALUATION REPORT REGARDING NATO & IRAQ
Preparations for the Dialogue
On August 27, 2024, Iraq's National Security Advisor, Qasim al-Araji, is set to participate in the inaugural session of the high-level dialogue with NATO. This meeting marks the beginning of a significant partnership between Iraq and the alliance, aimed at enhancing regional stability and security.
Before the dialogue, al-Araji met with Iraq's Ambassador to Brussels, Ahmed Tahseen Berwari, to discuss the agenda and key issues that Iraq's mission in Brussels will address. The Iraqi embassy in Brussels reported that the visit included a delegation comprising the Prime Minister's advisor and representatives from the Ministries of Defense, Interior, and Foreign Affairs.
During the meeting, Ambassador Berwari provided an overview of the discussions planned with NATO, highlighting topics such as military and security cooperation between Iraq and NATO.
The Dialogue's Objectives
The dialogue aims to strengthen Iraq's cooperation with NATO and the European Union, emphasizing Iraq's growing role as a partner. It will cover ways to enhance the partnership, including capacity building for Iraqi security forces, border security, combating drugs and terrorism, and the file of the Syrian Al-Hawl camp.
Al-Araji has confirmed that NATO's mission in Iraq is advisory, not combat-oriented, and that long-term partnership with NATO is to achieve Iraq's interests and fight terrorism. He also emphasized the importance of dialogue and partnership with NATO to achieve Iraq's security and stability.
Iraq's Position on Regional Issues
In a speech on the sidelines of the dialogue, Al-Araji referred to Iraq's position on regional issues, including its stance on the situation in the Gaza Strip and the importance of adopting dialogue and diplomatic channels to resolve international crises and conflicts.
Baghdad's Keenness on Cooperation
Iraq has expressed keenness on cooperating with NATO, highlighting the country's interest in enhancing security and stability through strategic partnerships.
Tomorrow.. Al-Araji participates in the first session of the high-level dialogue with NATO, 28 AUGUST
Baghdad today – Baghdad
The National Security Chancelliery announced on Monday (August 26, 2024) that Qassim Al-Araji will participate in the first cycle of the high-level dialogue with NATO on Tuesday.
“Her president arrived today in the Belgian capital Brussels at the head of a senior official delegation,” the chanceller said in a statement received by “Baghdad today.”
“Araji will participate in the first session of the high-level dialogue with NATO and the meeting of EU officials and the Belgian side, which will be held tomorrow, Tuesday in Brussels,” he added.
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