Iraq is close to signing a contract with Saudi Arabia for power generation

10/24/2021 17:38

  • number of readings 57
  • Section : Iraq

Baghdad / Obelisk: On Sunday, October 24, 2021, the Minister of Oil and head of the Iraqi delegation, Ihsan Abdul-Jabbar, stressed the importance of cooperation and economic integration with the brothers in the Kingdom of Saudi Arabia, especially in the oil, energy and manufacturing sectors.

During the fifth meeting of the Iraqi-Saudi Committee for Energy and Manufacturing in Riyadh, Abdul-Jabbar said that bilateral relations are witnessing a great development in all fields, and we have seen the brothers’ keenness to speed up the implementation of the axes that are agreed upon in the energy and industry sectors within the program of the Iraqi-Saudi Committee.

He pointed out that one of the most prominent topics that were addressed in the committee’s agenda was discussing the possibility of participating and investing in developing a number of fields with gaseous hydrocarbon compositions, and contributing to the Nibras Petrochemical Industries Project, the Gulf Electricity Interconnection Project, and a study of the establishment of industrial cities, and others. The meeting came out with recommendations Emphasizes the acceleration of the implementation of these projects.

Saudi Energy Minister Prince Abdulaziz bin Salman affirmed the Kingdom’s keenness to enhance prospects for bilateral cooperation between the two brotherly countries, in a manner that serves common interests, pointing to the desire of Saudi national companies to contribute to the implementation of a number of investment projects supporting the energy sector and manufacturing industries in Iraq.

He added that the committee had made significant strides in studying the technical, administrative, investment and executive aspects of the most important investment projects that were included in the agenda, stressing the Kingdom’s support for the brothers in Iraq in all fields.

For his part, the Minister of Electricity, Adel Karim, stressed the importance of the Iraqi-Gulf electrical connection, and his ministry’s readiness to provide all technical capabilities to implement this project, which contributes to covering an important part of Iraq’s needs. next few.

He revealed the imminent signing of the agreement with the Saudi Aqua Power Company to implement the investment project to generate (1000) megawatts of solar energy in Najaf Governorate.

 The Minister of Industry, Manhal Aziz, stressed the importance of implementing the Nibras Chemical Industries project in cooperation with Shell International and national and Arab companies willing to invest, and the future prospects for this project, which makes Iraq among the leading countries in this industry.

For its part, the head of the Investment Authority, Suha Daoud Najjar, welcomed Saudi investments in Iraq, especially in the energy sector and manufacturing industries, and that the authority is working to encourage joint investments through the facilities provided and overcoming administrative and technical obstacles.

The statement indicated that the authority succeeded in assisting the concerned ministries in concluding agreements and implementing them, which contribute to supporting and strengthening the national economy.

It is noteworthy that the Iraqi-Saudi Committee for Energy and Manufacturing Industries holds its periodic meetings, and includes the ministries of Oil, Electricity and Industry and the National Investment Commission.

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