Proparco has agreed to provide Terminal Link with a senior loan of US$33 million for the modernization of the Umm Qasr port infrastructure in Iraq.
The loan is granted for the renovation and expansion of a container terminal at the port. Terminal Link operates the port under concession through its subsidiary, CCTI. It is the result of a joint venture between CMA CGM and China Merchant Ports (CMP). Its network currently covers the Far East, Northern Europe, the Mediterranean, West Africa and North America.
The project encompasses the establishment and operation of 3 new docks, in addition to upgrading the existing facilities at the port. A new terminal for containers and general cargo will be developed within the port premises. Currently, the port consists of 21 berths, handling a container throughput of 500,000 Twenty-foot Equivalent Units (TEU). However, with a fully developed facility featuring 600 m of quay, the port's capacity is expected to expand to 900,000 TEUs. Umm Qasr Port holds paramount importance as Iraq's primary gateway for importing essential goods, responsible for handling a substantial 60% of the country's cargo. It is the sole deep-sea port suitable for container operations and is directly linked to the national road network. The primary objective of this project is to enhance and modernize the existing infrastructure to meet Iraq's significant import requirements, especially during its reconstruction phase.