Daewoo Engineering & Construction CEO Baek Jung-wan shakes hands with Iraqi Transport Minister Nasser Hussein Al-Shibli at Grand Hyatt Seoul Hotel in Seoul, Tuesday. Courtesy of Daewoo E&C

By Kim Jae-heun

Daewoo Engineering & Construction CEO Baek Jung-wan met with Iraqi Transport Minister Nasser Hussein al-Shibli to explain the current construction status of Al Faw Port in Iraq and promised him its successful completion, the company said, Thursday.

The Iraqi transport minister was invited to Korea for five days by Oceans and Fisheries Minister Moon Seong-hyeok, along with his companions Director General Farhan Muhaisen Ghadeab al-Fartooshi of General Company for Ports of Iraq and Iraqi Chief of Staff of the Naval Force Hameed Resan Allawi Behadili.

"I would like to thank Daewoo E&C for leading the construction of the Iraq port's infrastructure amid a difficult situation in the country. During this visit to Korea, I am happy to receive the know-how of Daewoo and the Ministry of Oceans and Fisheries on their skills of constructing a Korean-style port and managing it. I expect Daewoo to play the role of a total solution provider," al-Shibli said.

The Iraq government has a master plan of investing 53 trillion won to develop Al Faw port in Basra, southern Iraq, into one of the world's top 12 largest ports by 2041. Daewoo E&C has won a total of nine construction projects worth about $3.78 billion in the Al Faw Port project starting with breakwaters in February 2014.

The Iraq government is also seeking cooperation from the Korean government. In particular, it plans to receive the know-how collected from operating Busan Port, an advanced export base here, through the Ministry of Oceans and Fisheries and the local port operation consulting team. Daewoo E&C hope to lead government-level cooperation between the two countries and secure future business opportunities by gaining experience in operating the foreign port in Iraq.

"The visit of key Iraqi officials to Korea will further strengthen the trust and relationship between the Iraqi government and Daewoo E&C. We will actively participate in Iraq's infrastructure projects in the future too," a Daewoo E&C official said.