Iraq nears completion of Grand Faw Port, launches $600m Baghdad airport tender

Iraq nears completion of Grand Faw Port, launches $600m Baghdad airport tender
The progress on Iraq’s Grand Faw Port (pictured) and Baghdad Airport redevelopment aligns with the broader goals outlined in the country’s Vision 2030. Iraqi News Agency
Short Url
Updated 09 July 2025

Iraq nears completion of Grand Faw Port, launches $600m Baghdad airport tender

Iraq nears completion of Grand Faw Port, launches $600m Baghdad airport tender
  • Work on the flagship port project has reached key milestones
  • The $400–600 million airport investment will be fully privately financed

RIYADH: Iraq’s transport landscape is set for a major upgrade as it nears completion of its Grand Faw Port and launches a $600 million tender to redevelop Baghdad Airport through private investment. 

The Ministry of Transport said in a statement that work on the flagship port project has reached key milestones, despite ongoing challenges. 

The progress on these infrastructure projects aligns with Iraq Vision 2030, which aims to diversify the economy, reduce oil dependency, and boost non-oil sectors like logistics and tourism for long-term growth. 

Farhan Al-Fartousi, director general of the General Co. for Ports of Iraq, said that dredging work on the port’s navigation channel is 92 percent complete, while the container yard has reached 94 percent completion. The 63-km access road connecting the port to the national highway network is also finished. 

“The submerged tunnel project is going according to what is planned, as the third piece has been successfully completed, and the engineering teams are preparing to start the process of bringing the fourth piece in the coming days, after completing all the necessary technical and logistical recalls,” the release said, citing Al-Fartousi.

The tunnel comprises 10 segments, stretching 2,444 meters in total, with 1,226 meters submerged underwater. 




Iraq’s Vision 2030 prioritizes modernizing transport networks, enhancing regional connectivity, and leveraging public-private partnerships. File/AFP

The ministry is finalizing operational procedures for the port, which will soon be submitted to the Cabinet for approval. Once approved, 11 leading global port operators will compete for the management contract. 

The ministry said that Container Terminal No. 1 will meet high technical specifications and be operated by a world-class firm, ensuring the port’s success as a strategic regional hub. 

The transport ministry also unveiled plans for a public-private partnership to modernize Baghdad International Airport, in collaboration with the International Finance Corp., a World Bank affiliate. 

The government has opted for a public-private partnership model to overcome budget constraints and alleviate fiscal pressures, according to a separate ministry statement. 

The approach also aims to leverage private-sector expertise to accelerate infrastructure development, improve service quality, and create jobs while driving economic growth. 

“This initiative aligns with a broader development strategy and does not entail relinquishing the state’s sovereign role. Rather, it aims to enhance operational efficiency and ensure the delivery of safe, high-quality services to travelers,” the statement said. 

The IFC, serving as a non-profit adviser, is supporting Iraq in conducting feasibility studies and organizing a transparent international tender for the project. 

Under the agreement, the government will retain control over sovereign functions such as immigration, customs, air traffic control, and fuel storage. The private operator will be responsible for terminal operations, security screening, infrastructure upgrades, logistics systems, ground handling, and air cargo services. 

The $400–600 million investment will be fully privately financed, with the airport initially accommodating 9 million passengers annually before expanding to 15 million. Bidding closes in September, and the selected operator will share annual gross revenue with the government. The project is expected to generate at least 12,000 new direct jobs, the statement said. 

The progress on Iraq’s Grand Faw Port and Baghdad Airport redevelopment aligns with the broader goals outlined in the country’s Vision 2030, which emphasizes infrastructure development as a pillar of economic diversification and private-sector growth. 

The vision, spearheaded by the Ministry of Planning, prioritizes modernizing transport networks, enhancing regional connectivity, and leveraging public-private partnerships to overcome fiscal constraints, mirroring the airport project’s model. 

The vision’s “Diversified Economy” pillar calls for advanced infrastructure to stimulate trade and job creation, while its governance reforms stress transparency in tenders, as seen in the IFC-backed airport bid. 


to invest in solar-powered desalination project in Senegal, says minister

 to invest in solar-powered desalination project in Senegal, says minister
Updated 07 October 2025

to invest in solar-powered desalination project in Senegal, says minister

 to invest in solar-powered desalination project in Senegal, says minister

JEDDAH: is poised to sign an agreement to harness solar energy for a water desalination project in Senegal, alongside additional investments totaling €250 million ($291.57 million), Investment Minister Khalid Al-Falih said.
Al-Falih, leading a high-level Saudi delegation to the “Invest in Senegal Forum 2025” on behalf of Crown Prince Mohammed bin Salman, said the 300-megawatt photovoltaic project will be integrated with the desalination facility and other development initiatives. 
The delegation includes public sector representatives and 400 private sector delegates, with serving as the forum’s guest of honor.
According to the Observatory of Economic Complexity, Saudi exports to Senegal reached SR9.21 million in February 2025, while imports totaled SR105,000, resulting in a positive trade balance of SR9.1 million. Between February 2024 and February 2025, exports declined by SR1.28 million (12.2 percent), and imports fell by SR913,000 (89.7 percent).
Speaking in the presence of Senegal’s President Bassirou Diomaye Faye, Al-Falih said: “Senegal and Africa are a top priority for our external investments.” 
He expressed confidence that Saudi companies participating in the forum would soon announce new investments and partnerships in Senegal.
“Relations between and Senegal are historic, deeply rooted in Islamic brotherhood and shared values,” Al-Falih added, highlighting leadership-level visits since Senegal’s independence. He noted that Senegal’s Vision 2050 and the Invest in Senegal Forum signal a strong commitment to development and international partnerships.
The minister also highlighted Africa’s growing role in global investment, referencing Crown Prince Mohammed bin Salman’s announcement at the Saudi-African Summit of $25 billion in new investments across the continent.
Al-Falih detailed one of the Kingdom’s flagship initiatives: the Grande-Cote seawater desalination project. ACWA Power has signed an agreement to invest nearly €750 million to build a renewable energy-powered desalination plant, capable of supplying up to 400,000 cubic meters of potable water per day to Dakar and surrounding areas. 
“This project addresses climate change and advances energy transformation in Senegal,” he said.


Closing Bell: Saudi main index edges down to 11,583 

Closing Bell: Saudi main index edges down to 11,583 
Updated 07 October 2025

Closing Bell: Saudi main index edges down to 11,583 

Closing Bell: Saudi main index edges down to 11,583 

RIYADH: ’s Tadawul All Share Index edged down on Tuesday, as it shed 21.97 points, or 0.19 percent, to close at 11,583.23.  

The total trading turnover of the benchmark index was SR6.11 billion ($1.63 billion), with 85 of the listed stocks advancing and 154 retreating.  

The Kingdom’s parallel market Nomu also marginally declined by 0.08 percent to close at 25,520.62.  

The MSCI Tadawul Index edged down by 0.36 percent to 1,509.37.  

The best-performing stock on the main market was United International Holding Co. The firm’s share price advanced by 8.20 percent to SR174.20.  

The share price of ’s budget carrier flynas rose by 4.29 percent to SR80.30. East Pipes Integrated Co. for Industry also saw its stock price edging up by 3.64 percent to SR130.90.  

Conversely, the share price of National Shipping Co. of , also known as Bahri, declined by 3.58 percent to SR28.  

The best-performing stock on the parallel market was Rawasi Albina Investment Co., as its share price increased by 19.10 percent to SR4.49.  

On the announcements front, SAL Saudi Logistics Services Co. said that it signed a lease agreement with Sela Co. for 1.57 million sq. meters of land in Falcon City, north of Riyadh, to develop a new logistics zone.  

According to a Tadawul statement, the total estimated investment for planning, construction, and operation of the logistics zone is projected to reach SR4.2 billion.  

The company added that the development aligns with its strategic plan to diversify sources of income and strengthen its presence in the transportation and logistics sector.  

The statement further said that the lease agreement is valid for 30 years, and is extendable to an additional 15 years upon agreement of both parties, along with a three-year grace period.  

The share price of SAL edged up by 1.31 percent to SR185. 


Ford Motors gearing up to launch EV in the Saudi market

Ford Motors gearing up to launch EV in the Saudi market
Updated 07 October 2025

Ford Motors gearing up to launch EV in the Saudi market

Ford Motors gearing up to launch EV in the Saudi market

RIYADH: Ford Motors is set to join ’s electric vehicle market, rolling out the Mustang Mach-E in the Kingdom this November.

The US motor vehicle brand is set to test the waters with its first EV by rolling out 500 to 1,000 units in the Saudi market. This launch comes as year-to-date sales in are up 16 percent compared to August 2024. 

The EV market in is gaining momentum, a trend supported by the expansion of competitors such as the Public Investment Fund-backed Lucid, Chinese company BYD, and the establishment of the Kingdom’s first homegrown electric vehicle brand, Ceer.

Ravi Ravichandran, president of Ford Middle East and North Africa, told Arab News: “We are launching the Mustang Mach-E full battery this year.” 

“We are looking at 500-1,000 units, how we see the response and how good it is, and if there is a demand, we can always produce [more],” he added. 

The president of Ford MENA highlighted that, in the initial stages, they will test the market’s demand for the vehicles. He also clarified, “At this point, we don’t see a battery electric as a significant demand in the region.”

Ravichandran underlined that the Mustang Mach-E, which is already present in the US market, received initial positive feedback due to the government credit provided for driving EVs. 

“This Mustang Mach-E is a performance segment, and it will be on a top-end, high-end pricing,” Ravichandran said.

Adoption of EVs in the US stands at 2-3 percent, while the rate in  is lower as it is “just starting,” he said, adding: “We don’t see an immediate takeoff on battery electric here. People are more into hybrids, even in the US.”

The Ford Motor Team also announced the launch of the new Territory hybrid in .

“Over the next five years, we will see more hybrids, and then the EV will take a bit more time,” he said.

 aims to reduce carbon emissions by 50 percent and has an ambitious goal to transition 30 percent of all vehicles in Riyadh to electric by 2030.

“We also would look at partnerships if the government and the industry are shifting towards battery electric; we will also be a part of that growth story in terms of infrastructure and in terms of how the government wants to move into that direction,” Ravichandran said.

“We are investigating areas in that,” he said. 

Ford identified challenges in EV adoption in , including infrastructure, range anxiety, the affordability of the vehicles, and the impact of high temperatures on performance.

is aiming to tackle charging infrastructure limitations through entities such as EVIQ, a joint venture between the Public Investment Fund and Saudi Electricity Co. to provide EV infrastructure.

EVIQ has signed a memorandum of understanding with Black Lane and Universal Motors Agencies, one of ’s premier automotive dealers, to enhance EV charging access and awareness across the Kingdom.

EVIQ hopes to break the charging infrastructure stalemate by installing over 5,000 fast chargers across 1,000 locations throughout the Kingdom.

Highlighting its local commitment, PIF-backed Lucid recently revealed in its third-quarter 2025 figures that over 1,000 vehicles were built during the three-month period for final assembly at the company’s Saudi facility.


Saudi ports cargo throughput rises 8.6% to 22.52m tonnes in September 

Saudi ports cargo throughput rises 8.6% to 22.52m tonnes in September 
Updated 07 October 2025

Saudi ports cargo throughput rises 8.6% to 22.52m tonnes in September 

Saudi ports cargo throughput rises 8.6% to 22.52m tonnes in September 

JEDDAH: ’s ports handled 22.52 million tonnes of cargo in September, up 8.6 percent from the same month last year, reflecting the Kingdom’s expanding maritime trade. 

The growth included 1.22 million tonnes of general cargo, 5.7 million tonnes of dry bulk, and 15.6 million tonnes of liquid bulk, according to a release by the Saudi Ports Authority, known as Mawani. 

Saudi ports’ strong performance supports trade, maritime industries, tourism, and supply chains, while contributing to the Kingdom’s food security and its goal of becoming a major logistics hub connecting Asia, Europe, and Africa under Vision 2030. 

“Maritime traffic also rose by 1.11 percent to reach 1,001 vessels, compared to 990 vessels during the same period last year,” the statement noted, adding that passenger numbers increased by 58.56 percent to reach 71,376 passengers, compared to 45,015 passengers in September last year. 

It further said that the number of vehicles decreased by 20.09 percent to reach 75,616, compared to 94,630 a year ago. 

“The ports received 285,657 cattle heads, marking a decrease of 17.07 percent compared to 344,440 heads of livestock during the same period last year,” Mawani said. 

It added that handled containers fell 2.75 percent to 654,865 Twenty-foot Equivalent Units from 673,368 TEUs in September 2024. 

Exported containers amounted to 237,349 TEUs, a decrease of 7.14 percent compared to 255,606 in September 2024, while imported containers declined by 3.02 percent to reach 250,725 TEUs compared to 258,521 the same period last year. 

Transshipment containers, meanwhile, recorded an increase of 4.74 percent to reach 166,791 TEUs, compared to 159,241 during the ninth month of 2024. 

In August, Saudi ports handled 750,634 TEUs, a 9.52 percent increase from the 685,414 seen in the same period of 2024, driven by a 14.7 percent rise in transshipment activity to 189,407 TEUs. 


Saudi industry minister sets out investment opportunities to Greek officials

Saudi industry minister sets out investment opportunities to Greek officials
Updated 07 October 2025

Saudi industry minister sets out investment opportunities to Greek officials

Saudi industry minister sets out investment opportunities to Greek officials

RIYADH: and Greece are set to strengthen collaboration in industry and mineral resources following high-level talks in Athens between government officials.

The Kingdom’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with the European country’s Minister of Environment and Energy Stavros Papastavrou and Minister of Development Takis Theodorikakos, with the discussions focused on expanding strategic partnerships across industrial, mining, and maritime sectors, according to an official statement. 

Both sides explored opportunities for Greek investors in the Kingdom’s fast-growing mining sector, as well as avenues for knowledge exchange and technology adoption in mineral exploration and processing. 

The meetings also highlight ’s efforts to position itself as a global hub for mineral development, leveraging its vast untapped resources and the regulatory reforms introduced under Vision 2030 to attract international investors. 

In a post on its official X account, the Ministry of Industry and Mineral Resources said: “Alkhorayef discussed with the Greek Minister of Environment and Energy ways to develop joint cooperation in the mining sector and investment opportunities available in the Kingdom for Greek mining companies.”  

It added: “He also discussed opportunities for exchanging expertise and transferring the latest technologies and innovative solutions in the fields of exploration, extraction, and mine management.” 

In a separate meeting with Theodorikakos, Alkhorayef discussed expanding cooperation in industrial development, including maritime industries, infrastructure projects, and specialized industrial clusters.  

The two ministers emphasized the importance of enhancing bilateral economic ties and supporting joint ventures that can strengthen trade and industrial integration between the Kingdom and Greece. 

Alkhorayef extended an official invitation to both Greek ministers to participate in the fifth edition of the Future Minerals Forum, which will be held in Riyadh from Jan. 13 to 15, 2026.  

The visit aligns with the Kingdom’s broader strategy to accelerate growth in the mining and industrial sectors, which have become central pillars of ’s economic diversification agenda.  

Mining exports have surged by about 80 percent, driven by increased production of phosphate, iron, aluminum, copper, and gold.  

Current and planned investments in the sector are estimated at SR180 billion ($48 billion), underscoring ’s ambition to position itself as a global hub for mineral resources while attracting high-quality foreign investment into downstream industries.