Kuwaiti trading and contracting firm Al Nasriyah has been awarded a 45-year contract by the Iraqi National Investment Commission (NIC) to develop and operate a new airport to serve Iraq’s Diwaniya governorate.
The $1.35 billion airport will be built in three phases, with the latter phases including development of commercial, recreational, and recreational complexes around the airport known as Aerotroplis.
The $420 million first phase consists of development of the airport and a free trade zone on the 17.5 million sq m site. Targeted primarily at cargo operations, the airport will include a 3,600 meter runway, 45 meters wide, which will be able to handle all aircraft types. Construction is expected to begin this spring, with the first phase due for completion in 26 months. The whole project is targeted for completion in five years.
NIC chairman Sami al-Araji said the signing of the contract was clear evidence of the private sector contributing to the reconstruction of Iraq and pointed out that Al Nasriya would contribute 10% of profits from the project to the provincial government. The project is expected to create more than 8,000 jobs for the people of the province.