Iraq's Ministry of Transport has announced details of its project to develop Baghdad International Airport (BIAP) through a public-private partnership (PPP), in cooperation with the International Finance Corporation (IFC), a member of the World Bank Group.In response to fiscal pressures and the government's strategy to diversify funding sources, Iraq signed a consultancy agreement with IFC in September 2023. The organisation is providing technical and legal support for the tender process, which includes preparing the investment opportunity brief, feasibility studies, and launching an international, transparent bidding process. The Iraqi government will retain full sovereign authority, and the project will not involve public funding, loans, or guarantees.The winning investor will be selected based on the highest annual revenue share offered to the Iraqi treasury and will fund the entire development, estimated at between $400 million and $600 million [approx. IQD 525-790 billion]. The investor will manage and develop the airport, build new terminals with an initial capacity of 9 million passengers (expandable to 15 million), modernise airfield infrastructure and systems, and improve salaries and training for airport employees.Ten international consortia have been prequalified from a pool of 14 applicants. The Request for Proposals (RFP) has been issued, with bids due by September 2025.The government will retain control over sovereign functions such as customs, immigration, air traffic control, security, and VIP facilities. The investor will manage terminal operations, logistics, ground handling, and commercial development of surrounding land.The IFC's consultancy fee is capped at $500,000 [approx. IQD 655 million], with no funds disbursed yet. The project is expected to generate at least 12,000 direct jobs and significantly increase the airport's economic returns. (ICE AMMAN)

Fonte notizia: Stampa Locale