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 Irans 1,400-kilometer shared border with Iraq, saying Iranian and Iraqi companies had better team up for more cooperation.