PROJECT

Projects

Summary of Investment Information

Project Number

40784

Company Name

ALOREEN INVESTMENT

Date SPI Disclosed

Dec 21, 2020

Country

Iraq

Region

Middle East

Projected Board Date

Jan 31, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 30, 2021

Department

Regional Industry INF MCT

Industry

Infrastructure

Previous Events

Approved : Mar 29, 2021
Signed : Jun 23, 2021
Invested : Sep 28, 2021

Sector

Port and Harbor Operations

Additional Project Attributes

Public-Private Partnerships

Project Description

Aloreen Company for Investments (“Aloreen” or the “Company”) has been operating under the commercial name of Basra Multipurpose Terminal a multipurpose terminal (“Terminal 1”) at the Umm Qasr port (the “Port”) in Iraq. Terminal 1 has been operational since March 2016 under a 25-year concession agreement with the General Council for the Ports of Iraq. The Company is now seeking to increase its overall capacity by developing a new terminal exclusively dedicated to containers (“Terminal 2”). Once completed Terminal 2 is expected to have an annual handling capacity of approximately 400.000 twenty foot equivalent units.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation