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Iraq signs U.S. group to upgrade port

Iraq on Tuesday signed a $14 million deal with a U.S. consortium to modernize a major port in the country's southern province of Basra in a move aimed at developing key infrastructure neglected during years of war and sanctions. Under the 10-year agreement with a consortium led by North America Western Asia Holdings, the companies […]

Sinan Salaheddin reports for the Associated Press:

Iraq on Tuesday signed a $14 million deal with a U.S. consortium to modernize a major port in the country's southern province of Basra in a move aimed at developing key infrastructure neglected during years of war and sanctions.

Under the 10-year agreement with a consortium led by North America Western Asia Holdings, the companies will invest in a new heavy-lift crane, as well as container-handling capabilities and build a modern container yard in the Maqal Port on Shatt al-Arab waterway.