Al Tamimi & Company Advises IFC on Landmark Baghdad International Airport PPP

Dubai: Al Tamimi & Company, the leading full-service legal firm in the MENA region, is pleased to announce its role advising the International Finance Corporation (IFC) on the landmark public private partnership (PPP) for the redevelopment and operation of Baghdad International Airport in Iraq.

The Iraqi Council of Ministers has approved the award of a 25-year, approximately $764 million PPP concession to the CAAP Amwaj consortium, comprising Corporación América Airports (CAAP), the world’s largest private airport operator, and Amwaj, a leading Iraqi development group.

The project represents Iraq’s most significant transport PPP to date and marks a major milestone in the country’s infrastructure and aviation development. The scope of the concession includes the full redevelopment of Baghdad International Airport, encompassing a new passenger terminal, runway rehabilitation, and the construction of new cargo and VIP facilities. The project will be privately financed, with a revenue sharing mechanism benefiting the Iraqi government.

Al Tamimi & Company, together with DLA Piper, advised IFC as transaction advisor to the Government of Iraq. The project is expected to serve as a model for future infrastructure concessions across Iraq, paving the way for greater private sector participation in key national projects.

Khaled Al Saqqaf, Partner and Head of Al Tamimi & Company’s Jordan Office, commented: “This transaction marks a defining moment for Iraq’s infrastructure development and demonstrates the growing confidence of international investors in the country’s economic potential. We are proud to have supported IFC on this landmark PPP, which will enhance Iraq’s connectivity, drive investment, and serve as a benchmark for future public private collaborations across the region.”

Thomas Calvert, Head of Corporate Commercial, at Al Tamimi & Company’s Iraq Practice, commented: “The Baghdad International Airport PPP is a major step forward for Iraq, showing that large-scale, internationally bankable infrastructure can be delivered through transparent, competitive procurement aligned with global best practice. As the first PPP of its kind in the country’s aviation sector, this USD 764 million investment will modernize capacity and operations, improve the passenger experience, and help position Baghdad as a future regional hub.

Equally, it provides a clear, workable blueprint for future Iraq PPPs—attracting quality private capital, strengthening confidence in Iraq’s reform trajectory, and unlocking long-term value for the economy and local communities.”

Al Tamimi & Company’s Iraq team—led by Partner Khaled Al Saqqaf and supported by Partners Thomas Calvert, Haydar Jawad, and Senior Associate Aro Omar—together with colleagues across Iraq, played an integral role across corporate, regulatory, and PPP workstreams.