This multi billion dollar project will compete with the Suez Canal and build uninterrupted highway between Asia and Europe; here are all details

Latest reports have revealed that a significant infrastructure project is underway to establish new transport links between Europe and West Asia while stretching 745 miles from the northern Turkish border to the southern Persian Gulf in Iraq, reported The Mirror US.

According to The Mirror US, this ambitious initiative aims to create a network of roads, railways and ports while enhancing severe connectivity and reducing travel time between Asia and Europe and thereby competing with the Suez Canal. The project will be reportedly build upon the Grand Al Faw Port which will be eventually facilitating the export capabilities of Iraq and is seen as a pivotal step toward diversifying the country's economy beyond oil.

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The Prime Minister of Iraq Mohamed Shia al-Sudani views this project as extremely essential for fostering economic integration and improving the global standing of Iraq, asserted The Mirror US. The estimated cost of the project is around $17 billion while the completion is anticipated within three years.

It is also expected to save travelers 12 to 15 days compared to routes through Egypt. The Transport Minister of Iraq at the same time emphasized on the fact that this initiative is strictly economic and not politically motivated while aiming to benefit Iraq and the surrounding region, noted The Mirror US.

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The project has already garnered huge support from influential states which includes the UAE and Qatar while indicating a collaborative effort to enhance regional connectivity and economic growth.

FAQs:

Where is the most significant infrastructure of recent times already underway?
Latest reports have revealed that a significant infrastructure project is underway to establish new transport links between Europe and West Asia while stretching 745 miles from the northern Turkish border to the southern Persian Gulf in Iraq.

The recent project is getting built upon which famous port?
The project will be reportedly built upon the Grand Al Faw Port which will be eventually facilitating the export capabilities of Iraq and is seen as a pivotal step toward diversifying the country's economy beyond oil.