March 5 (Bloomberg) -- Iraq will invite bids this month to build a $341 million breakwater at the planned $6 billion Grand Fao port in the south of the country, said Omran Radhi, director general of the State Company for Iraq’s Ports.
Turkish, Chinese, Canadian, Spanish and Korean companies have expressed interest in the project, Radhi said in a telephone interview in Baghdad. He didn’t name the companies.
The Grand Fao port will have capacity for more than 30 ships and will provide at least 100,000 jobs, Radhi said.
Iraq holds the world’s fifth-largest crude deposits including Canadian oil sands, according to data from BP Plc. The government is trying to attract foreign investment and expertise to help rebuild the infrastructure and boost energy exports in order to revive an economy shattered by years of conflict, sanctions and sabotage.
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