Umm Qasr Terminal 2

active

The Umm Qasr Port (UQP) is located approximately 70 km south of Basra, Iraq, and is considered Iraq’s main port handling most of the container traffic and serving a large portion of the Iraqi population. The project aims to increase its overall capacity by developing a new terminal exclusively dedicated to containers (Terminal 2). Aloreen Company for Investments (Aloreen or the Company) has been operating since 2016, under a 25-year concession agreement from the General Council for the Ports of Iraq (GCPI). Sponsors are Terminal Investment Limited Holding S.A. (50%), Misnak International DWC (25%): a Turkish family-owned conglomerate owned by the Miskavi Family and Mr. Saad Ali (25%) an Iraqi businessman. The debt package comprises: IFC - $46 million; IFC's Managed Co-Lending Portfolio Programme - $39 million; and JICA - $40 million. Additional financing of $33 million as a grant is provided by the French Development Agency in July, 2023. Financial close was achieved on 15 December, 2021. https://disclosures.ifc.org/project-detail/SII/40784/umm-qasr https://www.jica.go.jp/english/news/press/2021/c8h0vm0000fdk9be-att/JointReleaseE.pdf https://www.proparco.fr/en/actualites/proparco-supports-modernization-umm-qasr-port-infrastructure-iraq