Baghdad – Egypt’s Holding Company for Roads, Bridges, and Land Transportation Projects, a state-owned entity under the Egyptian Ministry of Transport, is vying for a share of Iraq’s substantial railway development plans, with bids totaling $5 million in potential projects.

The move is part of a broader effort by Iraq to modernize its outdated transportation infrastructure, which has suffered years of neglect.

Sources revealed that the Iraqi government and the Egyptian company are currently engaged in negotiations focused on modernizing Iraq’s railway network.

The Egyptian firm, a key player in the transport and infrastructure sector, has already submitted its technical and financial bids, positioning itself as a competitive contender in the field.

These discussions come as Iraq continues to ramp up its infrastructure renovation efforts, with a $100 billion budget allocated over the next three years to overhaul critical sectors, including railways.

A key part of these efforts is the ambitious plan to modernize the country’s rail network, which has been identified as crucial for both economic development and improved connectivity within Iraq and across the region.

The final decision regarding the award of these railway contracts is expected to be made by the Iraqi government by March 2025, following a thorough evaluation of all submitted proposals.

The outcome will be watched closely, as it could set the stage for further Egyptian involvement in Iraq’s infrastructure boom.

Iraqi Ambassador to Egypt, Qahtan Taha Khalaf, underscored the significance of Egyptian companies’ contributions to Iraq’s reconstruction in an October statement.

He expressed hope for expanding cooperation between the two nations, especially in the infrastructure sector.

Khalaf highlighted that Egyptian businesses have been instrumental in ongoing efforts to rehabilitate Iraq’s infrastructure and are well-positioned to take advantage of further opportunities in the future.

In recent years, the cooperation between Iraq and Egypt has strengthened, especially through agreements aimed at enhancing bilateral relations in key sectors like transport and industry.

The Iraqi government, under the leadership of Minister Razzaq Al-Saadawi, has also been proactive in engaging with Egyptian officials to discuss strategies for expanding this cooperation.

In September 2024, Al-Saadawi and Egyptian Minister of Industry and Transport, Kamel El-Wazir, held talks to review potential opportunities for joint ventures between the two countries.

El-Wazir reaffirmed Egypt’s commitment to playing a significant role in the completion of Iraq’s Development Road project, which encompasses both railways and highways.

This project is pivotal to Iraq’s larger transportation overhaul, designed to foster economic growth and regional connectivity.

El-Wazir further revealed that negotiations are ongoing to sign a memorandum of understanding (MoU) with Iraq’s Ministry of Transport, which would pave the way for enhanced collaboration in both rail and road transport.

As part of Iraq’s broad infrastructure expansion, the partnership between Egypt and Iraq in the transportation sector is expected to be pivotal.

The increasing participation of Egyptian businesses in Iraq reflects growing bilateral ties, with more than 100 Egyptian firms expressing interest in working on various projects within Iraq.

These companies, eager to contribute their expertise, see Iraq as a key market for expansion and growth in the coming years. The joint efforts of both nations aim to lay the foundation for a stronger, more interconnected regional infrastructure network.