BASRA, Iraq (AP) — Iraq is building a new oil pier off its southern coast that’s expected to boost exports and imports of crude-derived products and increase revenue. The construction within the port of Khor al-Zubair — Iraq’s main fuel export and import facility — is over 70% complete and should be finished this year. That’s according to the head of a state company responsible for Iraq’s southern ports. The new pier marks the latest project undertaken by port officials and investors to modernize the port and boost revenue in the wake of government plans announced last year to clamp down on border corruption that significantly skims off state revenue.
The post Iraq looks to new pier to boost oil product imports, exports appeared first on WEEK.