UAE creates alternative transport corridor to Suez
AD Ports, the UAE's port and logistics operator, has entered into a preliminary
agreement with the state-owned company that operates Iraqi ports to create a joint
venture. It will develop the economic zone and port of Grand Fau in Basra as part
of a megaproject to create a corridor for Asian-European trade bypassing Suez.
This was reported by the Hellenic Shipping News portal.