Baghdad, July 8 (QNA) - The Iraqi Ministry of Transport has announced significant progress in various components of the Grand Faw Port project in Basra Governorate, southern Iraq, noting that preparations are underway to present the port's operating file to 11 specialized international companies.

The ministry said in a statement Tuesday that the port's navigation channel is approximately 92 percent complete, while the container yard is 94 percent complete, and work on the connecting road is 100 percent complete.

The statement said that work on the submerged tunnel project is proceeding according to plans, noting that the tunnel consists of 10 sections with a total length of 2,444 meters, of which 1,226 meters are underwater.

The ministry added that it is in the process of completing the procedures for opening the port's operating file, in preparation for the official announcement and opening the door to competition for 11 major international companies specialized in port operations around the world.

In 2023, Iraq launched the Development Road project and the development of the Grand Faw Port, at a total cost of $17 billion.

The project aims to connect the main port on the country's southern coast to the border with Turkiye via a network of railways and roads, as part of a plan aimed at revitalizing the Iraqi economy. (QNA)