Iraq to launch the project of the suspended train investment at a cost of $ 1.5 billion

Government & Politics

The National Investment Authority (NIA) announced on Saturday that it is ready to put forward the project of the suspension train for investment at an estimated cost of 1.5 billion dollars during the Kuwait International Conference for the Reconstruction of Iraq.

The Authority said in a statement today that “Iraq will present during the Kuwait International Conference the suspended railway project in Baghdad to be a viable project with good financial returns,” indicating that “the project was prepared by the French company Alstom.”

It added that the estimated cost of the project is 1.5 billion dollars and the duration of completion is five years,” noting that “the goal of the project is to contribute to resolving the crisis of traffic jams and improve the reality of service in the province of Baghdad.”

“The first phase will be 15.5 km long between Kadhimiya and Sadr City through Al-Shaab City and includes 12 internal stations through the Tigris River, while the second phase will be 4.45 km long between the global station in Alawi and Al-Ataifiyah and include two internal stations.”

Source: National Iraqi News Agency