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Economy
2022-July-23  20:57

Iran Planning to Export 400 Megawatts of Electricity to Iraq in 5 years

TEHRAN (FNA)- Iran is planning to export some 400 megawatts of electricity to Iraq in five years, the Iraqi energy ministry announced.

The ministry, however, said that the contract is not merely geared to supplying Iraq with electricity, but the deal serves to improve the quality of electricity and enhance Iraq's facilities used to meet local demand for power.

It pointed out that the electricity transfer is part of a strategic energy contract recently signed between Iran and Iraq.

The contract has been drawn up in proportion to Iraq's needs, the Iraqi energy ministry said.

In a relevant development earlier this month, Iranian Energy Minister Aliakbar Mehrabian announced the conclusion of a comprehensive contract with Iraq in the energy sector.

"Moving to conclude long-term strategic contracts in the electricity sector is one of the pivots of the Iranian government’s dynamic regional diplomacy which has had brilliant results for the country," the Iranian energy minister said.

“Accordingly, ground has been prepared recently for the first long-term cooperation with Iraq in the power sector, and we have signed an important and strategic agreement with this country,” he added.

He noted Tehran and Baghdad have already worked together on a variety of areas, namely the construction and development of power plants, as well as maintenance of power generating units.