Iraq will invite bids for the building of a breakwater in the Gulf, the country's state port company said, the first stage of construction in a giant $6 billion port scheme that has been held up for decades by sanctions and war.
The port, known as Grand Faw, is to be built south of Iraq's oil hub, Basra. Iraq has had plans to build a modern trade hub in the Gulf since the 1980s, but these were shelved early in former dictator Saddam Hussein's rule.
Omran Rahdi Thani, general manager of the General Company for Ports of Iraq, told Reuters the Transportation Ministry would soon seek bids soon to build the breakwater, which is expected to cost around 400 billion dinars ($340 million).
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