Iraq has approved a $764 million public-private partnership deal to modernize and operate Baghdad International Airport, marking one of the country's most significant aviation infrastructure investments to date.
The long-term contract was awarded to a global consortium led by Corporacion America Airports (CAAP), which operates more than 50 airports worldwide, in partnership with Iraq-based Amwaj International.
The consortium will fully finance the project with no burden on the government over the concession period, reported to span 25 years.
Under the agreement, the consortium will construct a new terminal with an initial annual capacity of 9 million passengers, expandable to 15 million in later phases. The project also includes runway and apron upgrades, enhanced firefighting systems, and job creation—targeting 1,000 new direct jobs for every additional 1 million passengers handled.
The winning bid allocates 43.05% of annual airport revenue to Iraq’s treasury, reflecting what the government described as the most competitive financial offer. The tender process was overseen by the International Finance Corporation to ensure transparency and global standards.
The investment aims to elevate Baghdad International Airport into a modern regional hub, supporting Iraq’s growing air transport market and broader economic diversification goals.