Egypt talks with Iraq on $500 million railway renovation projects

Egypt’s Holding Company for Roads, Bridges, and Land Transportation Projects, a state-owned organization connected to the Egyptian Ministry of Transport, is competing for $5 million worth of railway construction projects in Iraq.

Sources told Asharq Business that the Iraqi government and the Egyptian firm are engaged in discussions about modernizing the railway network in Iraq.

In response to Iraq’s recent announcement of a number of railway projects, the business has already filed its financial and technical bids.

This step is an important part of Iraq’s larger three-year infrastructure renovation budget of $100 billion, which includes major network developments for its railways.

The Iraqi government is expected to make a final decision about the final result of these negotiations by March 2025.

The Iraqi Ambassador to Egypt, Qahtan Taha Khalaf, said in October that Egyptian companies play an important role in infrastructure rehabilitation projects in Iraq.

Egyptian companies can participate further in the available opportunities to develop the Iraqi infrastructure, according to Khalaf.

The Iraqi diplomat expressed that he is looking forward to maximizing cooperation and promoting relations between Iraq and Egypt, particularly through the joint supreme committee.

In light of the cooperation agreements that the two countries have signed over the past years, different Egyptian businesses are active in the Iraqi market across a range of industries.

Last September, the Iraqi Minister of Transport, Razzaq Al-Saadawi, and the Egyptian Minister of Industry and Transport, Kamel El-Wazir, discussed strategies to expand bilateral cooperation between the two countries in the areas of industry and transportation.

El-Wazir reaffirmed later that Egypt is ready to make a significant contribution toward the completion of Iraq’s Development Road project, which includes railways and highways.

The Egyptian minister mentioned that negotiations are ongoing to sign a memorandum of understanding related to rail and road transport with the Ministry of Transport in Iraq.

Around 100 Egyptian businesses applied to work on projects in Iraq. These companies’ representatives stated that they would be glad to transfer their experience to Iraq.