Iranian Minister of Energy Reza Ardakanian announced on Wednesday that a two-year contract was signed with Iraq to export electricity.
Elaborating on the achievements made during his visit to Iraq, Ardakanian said that all contracts for the export of electricity to Iraq have used to be one-year, but during this visit, negotiations were finalized, and a two-year contract for the export of electricity for the years 2020 and 2021 was signed with the Iraqi Ministry of Electricity Majid Mahdi Hantoush.
With the coordination of the Iranian embassy in Iraq, half of the disbursement worth $400m was received during the trip, he added.
Ardakanian also said that he met and held talks with Iraq’s Prime Minister Mustafa al-Kazemi, President Barham Salih, Minister of Finance Ali Abdul Amir Alavi, and governor of Iraqi central bank during his visit to Iraq.
He noted that both sides reviewed previous agreements and a three-year plan for reconstructing the Iraqi electricity industry by the Iranian private sector.
Islamic Republic of Iran and Iraq are set to develop and enhance cooperation in the field of electricity.
Iranian Minister of Energy Reza Ardakanian arrived in Baghdad, capital of Iraq, on Wed. and met with his Iraqi counterpart and some other officials of this neighboring country.
Developing bilateral cooperation between Tehran and Baghdad in the field of electricity, synchronizing power grid between the two countries, cooperating in the field of training, and developing power networks are of the main topics of discussion between Ardakanian and Iraqi officials.