Iran firms active in Iraq

TEHRAN July 23 (Shana)–Iranian companies are operating 1.245 billion dollars of water and electricity projects in neighboring Iraq, Energy Minister Hamid Chitchian said.

 “Iraq is a big market for the export of technical and engineering services in the electricity industry,” the minister said.

“Iraq is a country with huge oil reserves and is awash with oil exports revenues. This country has enough resources for development and enjoys a big and diverse market,” he added.

Chitchian said Iranian companies should rush to win five to ten percent of the 275-billion-dollar projects Iraq is envisaging to invest in through 2013 to 2017.

He referred to Iran’s 1,400-kilometer shared border with Iraq, saying Iranian and Iraqi companies had better team up for more cooperation.



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