Iranian Firms to Study Strategies for Activity in Iraq’s Water, Electricity Projects

TEHRAN (Tasnim) – The Iranian private companies working in the area of water and electricity industries plan to hold a session to study strategies for cooperating in development projects of neighboring Iraq.

Iranian Firms to Study Strategies for Activity in Iraq’s Water, Electricity Projects

The meeting is slated to be held on Sunday with Iranian Deputy Energy Minister Sattar Mahmoudi in attendance.

Speaking to the Tasnim News Agency, the deputy minister said that currently, the Iranian companies are exporting their technical services in the area of water and electricity industries to 40 countries, including Iraq.

According to the Iranian experts, Iraq with an investment capacity of $25 to $30 billion per year in the power sector, is considered as a highly profitable market for technical services in this area.

Earlier in mid-February, high-ranking Iranian and Iraqi officials signed seven memorandums of understanding (MoUs) in Iraq, as part of efforts to boost mutual cooperation between the two neighboring countries in a whole range of areas.

The documents were signed during a meeting on February 16 between visiting Iranian First Vice-President Eshaq Jahangiri and Iraqi Prime Minister Haider al-Abadi.

The agreements feature Tehran-Baghdad economic cooperation in different fields, including road and air transportation, tourism, geology, mineral resources, joint exhibitions, as well as animal health and veterinary.

Most Visited in Economy
Top Economy stories
Top Stories