- BIST10011,430-2.49%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,161.80-0.46%
- INTEREST37.00%-1.00
- BITCOIN81,894-0.14%
- October 19, 202616°
- BIST10011,430-2.49%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,161.80-0.46%
- INTEREST37.00%-1.00
- BITCOIN81,894-0.14%
- October 19, 202616°
Development Road to cut Gulf-to-Europe transit to 25 days, Türkiye says
Transport Minister Abdulkadir Uraloğlu said the Development Road, running from Iraq’s Faw Port through Türkiye to Europe, would cut transit to about 25 days, 20 days shorter than the Cape of Good Hope route: “There is no corridor without Türkiye.”
Turkish Transport and Infrastructure Minister Abdulkadir Uraloğlu spoke at a conference on “The Changing Geopolitics of Global Transport and the Development Road Project” held at the SETA think tank’s Ankara office. “As a Türkiye at the heart of the Middle Corridor, managing the Turkish Straits and building the Development Road, we are clearly proving at the table and on the ground: there is no corridor without Türkiye,” he said.
He said the route from Iraq’s Faw Port through Türkiye to Europe would take about 25 days, 20 days less than the 45-day Cape of Good Hope route and 10 days less than the 35-day Southern Corridor.
“Less dependence on Hormuz”
Uraloğlu said the project offers a strategic alternative that will reduce dependence on the Strait of Hormuz, especially for cargo moving from Gulf countries to Europe. “If we had finished this project, the world would be talking less about the Strait of Hormuz,” he said, describing the Development Road as a comprehensive development project backed by logistics hubs, petrochemical plants and value-added production, not just a transport line.
The project is expected to contribute about $55 billion to the economy over 10 years and create jobs for an average of 70,000 people a year through production and logistics centers.
Iraq deals await parliamentary approval
Uraloğlu noted that memoranda signed on July 28 in the presence of President Recep Tayyip Erdoğan and Iraqi Prime Minister Ali al-Zaidi are to pass both countries’ parliaments before construction begins. He added that a recently signed Hejaz Railway cooperation memorandum with Saudi Arabia strengthens the project’s vision.
Have a story, event or announcement of your own?Send us your news on WhatsApp
Spotted an error in this story?Report it on WhatsApp
Share on all social platforms
Sponsored Ads
Featured Listings
Loading featured properties...
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
