{"id":115858,"date":"2026-06-17T00:00:00","date_gmt":"2026-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?p=115858"},"modified":"2026-06-17T07:46:13","modified_gmt":"2026-06-17T07:46:13","slug":"iraq-scraps-its-usd-764-mn-baghdad-airport-ppp-over-corruption-concerns","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/iraq-scraps-its-usd-764-mn-baghdad-airport-ppp-over-corruption-concerns\/","title":{"rendered":"Iraq scraps its USD 764 mn Baghdad airport PPP over corruption concerns"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Turbulence in Baghdad: <\/strong>Iraq scrapped a USD 764 mn agreement to overhaul Baghdad International Airport over corruption suspicions, <a target=\"_blank\" href=\"https:\/\/reuters.com\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/reuters.com\" style=\"\">Reuters<\/a> reports. Baghdad pulled the 25-year build-operate-transfer (BOT) contract \u2014 awarded last year to a consortium of Corporaci\u00f3n Am\u00e9rica Airports and Iraqi real estate firm Amwaj International \u2014 after flagging potential irregularities in the tender and contract terms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The deal was meant to be Iraq\u2019s private-capital showcase in a push to modernize airports backed by the IFC. The plan aims to raise the airport\u2019s capacity to c. 8.5 mn passengers in phase one, with the consortium running terminals, ground services, and air cargo while the state keeps control of customs and fueling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cancellation comes before the financial close, which caps the legal exposure but not<\/strong><strong> the reputational hit.<\/strong> \u201cCanceling before financial close is less damaging than terminating a fully operational concession,\u201d Wouter Dewulf, professor of air transport economics at the University of Antwerp, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/06\/16\/baghdad-cancels-its-flagship-airport-ppp-over-corruption-concerns\/\" style=\"\">tells<\/a> our LogisticsAM Desk. \u201c[The] signal is still important, because international investors look not only at law-related closure but also at the credibility of the entire procurement and award process,\u201d Dewulf says. <\/p>\n<p><strong>IN CONTEXT-<\/strong> <strong>The move comes as Iraq\u2019s new Prime Minister Ali Al Zaidi turns to <\/strong><strong>combating corruption <\/strong>as one of the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/03\/war-threatens-indias-auto-exports-and-margins\/\" style=\"\">early priorities<\/a> of his term. That came after he disclosed he was offered a bribe to cover up embezzlement in the Oil Ministry, which ultimately led to the arrest of the deputy oil minister for refining affairs Adnan Al Jumaili and the establishing of a new council tasked with investigating and cracking down on organized corruption in government. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Morocco<\/strong><strong> is carefully weighing a freetrade proposal from China<\/strong>, with Industry and Trade Minister <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-12\/morocco-weighs-china-free-trade-agreement-minister-says\" style=\"\">Ryad Mezzour saying<\/a> the proposal is \u201cunder reflection.\u201d An agreement could deepen supply chain ties with China, which has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/chinas-gotion-high-tech-set-up-13-billion-ev-battery-gigafactory-morocco-2024-06-06\/\" style=\"\">pledged more than USD 6 bn<\/a> in EV and battery commitments in the country. However, Morocco\u2019s industrial model leans on tariff-free access to Europe and the US, and Brussels has already flagged concerns about Chinese oversupply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A China deal would give local manufacturers access to the Chinese market and help<\/strong><strong> Morocco diversify beyond Europe<\/strong>, Mezzour said. Another FTA with Chile is also in the works, aimed at booting Morocco\u2019s exports \u2014 particularly automobiles \u2014 to South America\u2019s Mercosur trade bloc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Kuwaiti <\/strong><strong>developer Urbnlanes <\/strong><strong><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/136468\/%D8%A3%D9%88%D8%B1%D8%A8%D9%86-%D9%84%D9%8A%D9%86%D8%B2-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-430-%D9%81%D8%AF%D8%A7%D9%86%D8%A7-%D8%A8%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D8%AD%D9%83%D9%85%D8%A9\/?utm_term=Autofeed&utm_campaign=ebx-egy&utm_medium=Social&utm_source=Twitter&Echobox=1781507568\" style=\"\">is in final negotiations<\/a><\/strong><strong> to acquire a 430-feddan plot in <\/strong><strong>Egypt\u2019s Ras El Hekma for EGP 7 bn (USD 137 mn)<\/strong>, where it plans to set up a tourism and hotel project with expected total investments of EGP 80 bn. The move follows the reported withdrawal of Sky Abu Dhabi Developments (Sky AD) from its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/16\/sky-ad-breaks-ground-on-egp-80-bn-ras-el-hekma-project\/\" style=\"\">previous development agreement<\/a> on the site, according to the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The exit:<\/strong> Sky AD \u2014 the real estate arm of UAE-based Diamond Group \u2014 recovered EGP 900 mn it had paid to the landowner and refunded all customer down payments, the sources said. Sky North \u2014 as the project was called \u2014 was planned to span 430 feddans across five phases with a total investment of EGP 80 bn. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: Another GCC real estate developer eye Egypt\u2019s North Coast<\/p>\n","protected":false},"author":1,"featured_media":115859,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[2638],"tags":[2667,2538,2694,2616,2637],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-115858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking","tag-aviation","tag-enterpriseam","tag-investments","tag-iraq","tag-what-were-tracking","wpautop","entry"],"acf":{"mongo_id":"500927c5-4e74-45e2-bd6f-fad742bcf5f9","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/926.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Turbulence","related_issue":[115841],"teaser":"Plus: Another GCC real estate developer eye Egypt\u2019s North Coast"},"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>Iraq scraps its USD 764 mn Baghdad airport PPP over corruption concerns - MENA+ Edition<\/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\/menaplus\/2026\/06\/17\/iraq-scraps-its-usd-764-mn-baghdad-airport-ppp-over-corruption-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iraq scraps its USD 764 mn Baghdad airport PPP over corruption concerns\" \/>\n<meta property=\"og:description\" content=\"Plus: Another GCC real estate developer eye Egypt\u2019s North Coast\" \/>\n<meta property=\"og:url\" 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