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New $17 billion project to establish a key trade corridor between Europe and Asia
Posted on December 9, 2024 |
A multi-billion-dollar infrastructure project is being developed to create new transport links between Europe and West Asia.
The route will span 745 miles from the northern Turkish border to the southern Persian Gulf in Iraq.
This project will involve a network of roads, railways, ports, and cities.
Its goal is to reduce travel time between Asia and Europe and provide competition to the Suez Canal.
The project aims to strengthen Iraq’s global standing and improve its domestic economy and infrastructure.
It will build on the Grand Al Faw Port project, enhancing Iraq’s export capabilities.
The project’s cost may exceed its initial $17 billion estimate, offering a financially viable alternative to the Suez Canal.