Development Road Project will contribute 55 billion dollars to the economy

Minister of Transport and Infrastructure Abdulkadir Uraloğlu stated at the Changing Global Transport Geopolitics and Development Road Project Conference held in Ankara that the project is projected to contribute approximately 55 billion dollars to the Turkish economy over a 10-year period and create employment for an average of 70 thousand people each year.

Minister of Transport and Infrastructure Abdulkadir Uraloğlu attended the Changing Global Transport Geopolitics and Development Road Project Conference held by the Foundation for Political, Economic and Social Research (SETA) at its Ankara Office. Speaking at the conference, Minister Uraloğlu stated that the project offers a strategic alternative against tensions around the Strait of Hormuz and will connect the Persian Gulf to Europe via Turkey from the Al-Faw Port in Iraq. It was noted that the project will shorten the transport time by 20 days compared to the Cape of Good Hope route, reducing it to approximately 25 days.

The project is projected to provide a contribution of approximately 55 billion dollars to the Turkish economy over a 10-year period and create employment opportunities for an average of 70 thousand citizens each year. Speaking at the conference, SETA General Coordinator Nebi Miş stated that the Development Road offers a concrete partnership ground that can reduce fragmentation in the Middle East.