Iraq Signs $690M Barrier Contract With S.Korea's Daewoo

Tue, Nov 26, 2013

Iraq recently announced the signing of a $690 million contract with South Korea's Daewoo to build a sea barrier at the planned Grand Faw port in Basra.

Daewoo was one of four companies which had bid for the contract to build the barrier at Grand Faw. Grand Faw is one of several projects which Iraqi authorities hope will create a transportation corridor between the Middle East and Europe that will bypass the Suez Canal.

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To read the full piece from Reuters, click here.