The contract covers the construction of a 14.5 kilometre-long road, which is expected to be completed by May 2021.
The project client is the General Company for Ports of Iraq.
In May, the Iraq Port Authority awarded Daewoo E&C a $200m contract to build a 4.5km temporary dyke for the first phase of the Al-Faw container terminal.
Daewoo E&C is already working on the western breakwater at Grand Al-Faw port. That work is scheduled for completion this year.
The Al-Faw peninsula is located in the extreme southeast of Iraq. It adjoins Iraq’s Basra and Iran’s Abadan regions.
The budget for the port’s development is estimated to be up to $8bn.
Daewoo E&C won the project’s western breakwater contract in 2013.
It is understood that the eastern breakwater, awarded to the Netherlands-registered Archirodon, has been completed.
The much-delayed port scheme is expected to have 12 berths and the ability to handle 99 million tonnes of cargo annually when complete.
Last year, Japan’s Mitsubishi Corporation won the $110m contract to rehabilitate and build berths at Umm Qasr Port in the southern Iraqi region of Basra. Japan International Cooperation Agency (Jica) is financing that project.
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