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The Prime Ministers Advisor for Transportation Affairs has announced that the Development Road Project will be managed by a new 100% Iraqi-owned company, reporting directly to the Prime Minister. Speaking to the state-run Iraqi News Agency (INA), Nasser Al-Asadi explained that during a recent meeting of the Higher Committee for the Development Road, a comprehensive study was conducted on the most appropriate legal structure to manage the project. Various options were considered, including establishing a company, authority, or other legal entity. The final decision is to form an independent private company under the Companies Law, which will: Oversee all financial, engineering, economic, and investment aspects of the project; Operate independently of the Ministry of Transport; Have its own laws and regulations; Handle any investment shares related to the project. Al-Asadi underlined the strategic nature of the Development Road, describing it as a global project requiring a dedicated entity to ensure effective and transparent management. |
