Iraq’s Ministry of Transport has shortlisted 10 international consortiums to bid for the redevelopment of Baghdad International Airport under a public-private partnership (PPP) model, the official Iraqi News Agency (INA) said in a report on Tuesday.

“The Request for Proposals (RFP) has been launched, with final submissions due by September 2025,” the INA report said.

The International Finance Corporation (IFC), a member of the World Bank Group, is serving as lead transaction advisor to the Iraqi government for the PPP project under an agreement signed in September 2023.

The 10 consortiums were shortlisted from a pool of 14 applicants.

INA said the redevelopment will be fully financed by the selected operator with no state contribution, with the investment estimated between $400 million and $600 million.

The project scope includes construction of new passenger terminals with an initial capacity of 9 million passengers annually, expandable to 15 million, and the modernisation of airfield, safety and HVAC systems, and internal transport networks.

The report said the project incorporates a revenue-sharing model where the selected operator will pay a percentage of gross revenues to the Iraqi government.

Under the PPP framework, the Iraqi government will retain control over customs, passport control, airspace management, VIP terminals, and fuel storage, while the private operator will oversee terminal operations, internal security screening, cargo logistics, infrastructure upgrades, and development of airport-adjacent land

The INA report said the project will support the creation of at least 12,000 direct jobs, with a focus on upskilling existing airport staff and improving wage standards

IFC’s advisory support follows similar engagements in Jordan, Saudi Arabia, Egypt, and Tunisia. The advisory contract value is under $500,000, with no disbursements made to date, the report said.