ANKARA, July 31 (HS/RIA Novosti) - Turkey aims to complete the Development Road transport corridor project linking the Persian Gulf to Europe via Iraq within three years to reduce dependence on the Strait of Hormuz, the pro-government Yeni Safak newspaper reported on Friday.

The Strait of Hormuz, a key route for about a fifth of global seaborne oil shipments, has faced disruption risks amid the US war on Iran.

The project could be completed in four to five years, but we will discuss whether we can finish it in three after work begins, Transport Minister Abdulkadir Uraloglu was quoted as saying.

The project involves building some 1,200 kilometers (745.6 miles) of railways, highways, and energy and telecom infrastructure from Iraq's Al-Faw Port to Turkey, with onward connections to Europe. The railway alone is estimated to cost around $15 billion.

Turkey and Iraq have agreed on the construction of a new border crossing at Faysh Khabur-Ovakoy and on the project's financing mechanism, according to the report.

Ankara aims to complete technical documentation and begin construction this year, prioritizing the railway to enable efficient cargo transport to Europe and reduce carbon emissions. Once completed, the project will diminish the importance of the Strait of Hormuz for global logistics, the newspaper said.

The Development Road project involves Turkey, Iraq, Qatar, and the United Arab Emirates. Ankara views it as an alternative global trade route reducing dependence on maritime chokepoints, including the Strait of Hormuz and the Suez Canal.

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Hindusthan Samachar / Indrani Sarkar