Türkiye and Iraq are building a new Suez Canal! - A $17 billion mega project
Iraq and Türkiye's New $17 Billion Suez Canal - Plan to Become a Trade Superpower This is the Al-Faw Peninsula, a small piece of land overlooking the Persian Gulf. It may be small, but it could soon become one of the world's most important landmasses. It comprises Iraq's entire coastline and, despite its size, gives the country unparalleled access to the global maritime transport sector. This 20-kilometer stretch of coastline lies at the heart of a plan that could make Iraq one of the most valuable trade hubs not only in the region but perhaps in the world. Let me explain. This is the Suez Canal. It has dominated the global supply chain for over 150 years. However, reaching capacity limits and the continuing threat of piracy in the Red Sea have forced shipping experts to seek alternative routes. Iraq wants to respond to these calls. Here, it is preparing to build a new route, claimed to be faster and safer than the Suez Canal. However, before Iraq can seize leadership of the global supply chain from Egypt, it must complete the largest infrastructure project in its history.
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