The Iraqi government approved a major Public-Private Partnership (PPP) deal worth USD 764 million for the development and operation of Baghdad International Airport.

The long-term contract was granted to an international consortium headed by Corporación América Airports (CAAP) — a Luxembourg-based operator overseeing more than 50 airports globally — in collaboration with Amwaj International, a prominent Iraqi real estate and investment firm. The consortium will fully fund the project, ensuring no financial burden on the government during the 25-year concession period. The CAAP Consortium was chosen for submitting the most competitive financial proposal, committing to allocate 43.05% of the airport’s total annual revenue to the national treasury throughout the duration of the concession.

Under the contract, the consortium will build a modern passenger terminal with an initial capacity of 9 million passengers annually, expandable to 15 million in the second phase. It will also rehabilitate runways and aprons, upgrade firefighting capabilities, and create 1,000 new direct jobs for every 1 million additional passengers handled.