Baghdad, Iraq – Nasser Al-Asadi, the Prime Minister’s Advisor for Transportation Affairs, clarified on Friday the role of the company overseeing the Development Road Project. He emphasized that the company will be fully Iraqi and will operate under direct oversight from the Prime Minister.
During a meeting of the Higher Committee for the Development Road, Al-Asadi explained that a comprehensive study was conducted to determine the best legal structure for managing the project, given its global significance. After considering various options, the conclusion was made to establish a private company responsible for managing all financial, engineering, economic, and investment aspects of the project.
He further stated that the company would be created in accordance with the Companies Law and will operate independently from the Ministry of Transport. It will function as a private entity with its own set of laws and regulations, reporting directly to the Prime Minister. The company will also handle any existing investments, and should the project be offered in shares, it will be responsible for managing them.
