02-07-2025
Iraq revisits Baghdad metro project
The Iraqi government is reassessing the financial framework for a planned multi-billion-dollar project to build its first metro network in the capital Baghdad.
Baghdad Metro's financial and technical standards are being re-evaluated after previous proposals were rejected, Nasser Al-Assadi, Prime Minister Mohammed Sudani's adviser for transport confirmed in an interview with the official Iraqi News Agency (INA).
"Technical documents showed the presence of excellent and competent bidding companies, but from a financial standpoint, most of the bids were not up to the required standard and did not give us sufficient confidence to proceed with the contract,' Al-Assadi said.
"The recent meeting with the Prime Minister included a re-evaluation of criteria and the introduction of new mechanisms for implementing the project to ensure the best practical and financial formula,' he added.
On Sunday, the Iraqi Prime Minister's Office had said in statement that the new vision for the project involves using global best practices, relying on public-private partnerships (PPP) with Iraqi and foreign investors, handling of construction and operation by international companies, and conducting detailed studies. It said the Prime Minister has directed the completion of procedures and studies for the Metro according to the new vision and presenting the same at the next meeting.
In mid-2024, Iraq said it had awarded the metro project to a European-Turkish consortium comprising France's Systra, SNCF and Alstom, Spain's Talgo and SENER and Turkish contractors, backed by Germany's Deutsche Bank.
In February 2024, Iraq's National Investment Commission (NIC) had initiated the tendering process for the Baghdad Metro and Phase 1 of Najaf-Karbala railway under the PPP model.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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