22.7 C
Iraq
Thursday, February 26, 2026

Iraq Gold Prices Hold at 1.12m IQD in Baghdad, Rise 12,000 IQD in Erbil

Gold prices held steady in Baghdad at 1.120 million IQD per mithqal, while Erbil recorded gains of 12,000 IQD. Traders reported balanced demand in...
HomeEconomyIraq Expands Baghdad International Airport to 9 Million Passengers With $764m Plan

Iraq Expands Baghdad International Airport to 9 Million Passengers With $764m Plan

Iraq has launched a major expansion to raise Baghdad International Airport’s capacity to 9 million passengers annually. Officials confirmed that 26 development projects are now underway. Moreover, the plan includes a $764 million investment package.

The Transport Ministry announced that Baghdad International Airport’s capacity will increase through phased upgrades. Spokesperson Maitham al-Safi said authorities aim to modernize aviation systems and passenger facilities. Therefore, the airport will handle higher traffic efficiently.

Al-Safi explained that navigation equipment from Norway, Spain, and France will arrive soon. These systems will strengthen aviation safety and operational performance. In addition, technicians will install advanced control technologies to support increased capacity.

The Iraqi cabinet awarded the development contract to a consortium led by Corporacion America Airports and Amwaj International. The agreement covers airport development and long-term operation. As a result, private sector expertise will guide modernization efforts.

The $764 million contract includes the construction of a new passenger terminal. The first phase will support 9 million passengers per year. Later phases could expand capacity to 15 million passengers annually. Consequently, Baghdad International Airport’s capacity will grow in stages.

Under the agreement, 43.05 percent of annual airport revenue will flow to the national treasury. This structure ensures government benefits throughout the concession period. Furthermore, officials confirmed that the project will not burden public finances.

Developers will rebuild existing airport buildings and upgrade fire systems. They will also modernize water networks and improve waste management systems. Additionally, the partnership requires comprehensive staff training programs.

The expansion will generate significant employment. Officials estimate around 1,000 direct jobs for every additional one million passengers. Therefore, increased Baghdad International Airport capacity will also support labor market growth.

In parallel, the International Finance Corporation serves as the government’s main consultant. The advisory role ensures compliance with international aviation and financial standards. Consequently, Iraq aims to attract global confidence in its aviation sector.

The airport project aligns with Iraq’s 2030 Vision for Sustainable Development. Leaders want to diversify the economy beyond oil revenues. They also seek stronger private sector participation in infrastructure.

Baghdad International Airport remains Iraq’s primary air gateway. Therefore, expanding Baghdad International Airport’s capacity strengthens trade, tourism, and business travel. Officials believe the 9 million passenger milestone marks a major step forward.

If construction proceeds as planned, the airport will enter a new operational era. With $764 million in investment and 26 active projects, Iraq signals a clear commitment to aviation modernization.