Iraq announced a major step in aviation development through the Iraqi-Luxembourgian consortium project. The government awarded a $764 million contract to develop and operate Baghdad International Airport. The consortium includes Corporacion America Airports and Amwaj International, two well-known companies with solid experience in infrastructure and aviation projects.
The Iraqi-Luxembourgian consortium project focuses on transforming the airport into a modern regional hub. The plan includes building a new passenger terminal capable of handling up to 15 million passengers each year. The first phase will support nine million passengers, and future expansions will increase this capacity to meet growing demand. Moreover, the project ensures that 43.05 percent of the airport’s annual income goes to Iraq’s treasury.
Corporacion America Airports brings international expertise to the Iraqi-Luxembourgian consortium project. The company operates more than 50 airports across Latin America and Europe, including in Argentina, Brazil, and Italy. Meanwhile, Amwaj International contributes strong local knowledge and experience from its real estate developments worth over $3 billion in Iraq.
The project also includes upgrading old facilities. It will modernize fire and water systems, improve waste management, and train airport staff. Additionally, it guarantees employee salaries and ensures better working conditions for airport personnel. Furthermore, the project aims to create about 1,000 direct jobs for every additional one million passengers, which will support Iraq’s employment goals.
Importantly, the project does not place any financial burden on the government. Instead, it relies on private sector funding and management. This approach aligns with Iraq’s 2030 Vision for Sustainable Development, which seeks to reduce dependence on oil revenues and diversify the national economy.
The International Finance Corporation (IFC), part of the World Bank Group, acts as the government’s main advisor on this project. It helps Iraq ensure the airport meets global safety and service standards. The IFC also supports efforts to make Baghdad International Airport one of the leading airports in the region.
Through this partnership, Iraq aims to strengthen its aviation network and attract more tourists and investors. The new airport facilities will boost trade, travel, and economic growth, making Baghdad a central destination in the Middle East.