Iraq has invited global investors to bid for its multi-billion-dollar Grand Faw port project, according to a report.

The Ministry of Transport put the project’s total cost at around $6.5 billion (7.6 trillion Iraqi dinars), adding that only “serious and financially able” companies can bid, said a report by Iraq-business News.

The port has a planned capacity of around 99 million tonnes per year, and will have a 39 km container quay and another 2 km berth, besides a container warehouse with an area of more than 1 million sq m, the report added.