JOC Staff | Oct 02, 2012 1:17PM EDT
North America Western Asia Holdings on Oct. 2 announced that it has entered a 10-year agreement with Iraq’s Ministry of Transportation and the General Company for the Ports of Iraq to modernize the 93-year-old Maqal Port, which is located in Basra’s urban center on the Shatt al Arab waterway.
The recently created American asset company will invest $14 million in heavy-lift cranes and container-handling capabilities, and will also build a modern container yard.
