{"id":71394,"date":"2023-06-12T00:00:00","date_gmt":"2023-06-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/12\/lebanon-hungary-to-participate-in-iraqs-road-development-project\/"},"modified":"2023-06-12T00:00:00","modified_gmt":"2023-06-12T00:00:00","slug":"lebanon-hungary-to-participate-in-iraqs-road-development-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/12\/lebanon-hungary-to-participate-in-iraqs-road-development-project\/","title":{"rendered":"Lebanon + Hungary to participate in Iraq\u2019s Road Development Project"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Iraq\u2019s USD 17 bn <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d3321249-4ced-4ad8-83de-b39732be3c6b\" style=\"\">Development Road Project<\/a><\/span><span style=\"font-weight:700\">is attracting the attention of foreign investors<\/span><span style=\"\">, with <\/span><span>Lebanon and Hungary being the latest countries to express interest in participating. Iraq is currently <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/motrans.gov.iq\/?article=669\" style=\"\">putting in place<\/a><\/span><span> the final designs for the project, which will include the MENA region's largest industrial city, Iraq's Prime Minister Mohammed Al Sudani said, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ina.iq\/eng\/26891-pm-the-development-road-is-a-large-and-ongoing-project-that-will-include-the-largest-industrial-city-in-the-middle-east.html\" style=\"\">Iraqi News Agency<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Iraq wants Lebanon on board:<\/span><span> Lebanese officials say that Lebanon can potentially contribute by making its ports of Beirut and Tripoli the sea outlets for the project, according to a Lebanese Information Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nna-leb.gov.lb\/en\/economy\/620114\/hamieh-iraqi-transport-minister-informed-speaker-b\" style=\"\">statement<\/a><\/span><span>. Officials from the two countries <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/motrans.gov.iq\/?article=669\" style=\"\">discussed<\/a><\/span><span style=\"font-weight:400;\"> enhancing their economic cooperation and developing their bilateral relations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s also open to all Arab countries wishing to contribute to the project<\/span><span>, the Iraqi Transport Ministry <\/span><span>statement<\/span><span style=\"font-weight:400;\"> said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WATCH THIS SPACE-<\/span><span> Iraq will hold a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7690da8d-7509-4d5a-b8d9-a42576e46d0e\" style=\"\">press conference<\/a><\/span><span> this Wednesday<\/span><span> to discuss the project and will invite more potential investors, according to Lebanese news outlet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.lbcgroup.tv\/news\/news-bulletin-reports\/707836\/road-map-for-prosperity-lebanons-participation-in\/en\" style=\"\">LBC International<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The project is also attracting the attention of Hungarian companies looking to invest<\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ina.iq\/eng\/26906-al-sudani-receives-attila-tar-ambassador-of-hungary-in-iraq.html\" style=\"\">INA<\/a><\/span><span style=\"font-weight:400;\"> reported following a meeting between Al Sudani and Hungarian ambassador to Iraq Attila Tar.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICYMI-<\/span><span> China could also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7690da8d-7509-4d5a-b8d9-a42576e46d0e\" style=\"\">contribute to the project<\/a><\/span><span>, whether through investment or implementation. Chinese Ambassador Cui Wei visited Baghdad last week, where Iraqi Transport Minister Razzaq Al Saadawi said that Iraq is \u201clooking forward to an effective contribution by China.\u201d Ambassador Cui Wei also expressed China\u2019s readiness to review the feasibility study conducted by Iraq and offer technical advice for the project's completion, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ina.iq\/eng\/26817-pm-iraq-has-received-offers-to-finance-and-implement-the-development-road.html\" style=\"\">INA<\/a><\/span><span style=\"font-weight:400;\"> reported separately. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"font-weight:400;\"> The USD 17 bn project, announced last month, will involve roads, bridges, and high-speed trains that can transport goods and passengers at speeds of up to 300 km per hour, while the road network is anticipated to facilitate the transportation of some 5-6 mn containers. The project is expected to become a major rival to the Suez Canal, by significantly reducing travel time between Europe and Asia. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iraq will hold a press conference on Wednesday, inviting more potential investors<\/p>\n","protected":false},"author":1,"featured_media":71395,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[136],"tags":[17,35,134,121],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-projects","tag-enterprise-logistics","tag-iraq","tag-projects","tag-rail","wpautop","entry"],"acf":{"mongo_id":"30f4b9b8-74e9-4671-858b-694f94b13ed9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/551.jpg,https:\/\/motrans.gov.iq\/upload\/4403840004.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lebanon + Hungary to participate in Iraq\u2019s Road Development Project","related_issue":[71389],"teaser":"Iraq will hold a press conference on Wednesday, inviting more potential investors","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.392556ad-2181-4402-82e3-7834bd220d9c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lebanon + Hungary to participate in Iraq\u2019s Road Development Project - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/06\/12\/lebanon-hungary-to-participate-in-iraqs-road-development-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lebanon + 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