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FINANCIAL NEWS
Iraq’s imports from Iran to reach USD12b
13 Dec 2012
(MENAFN) Iran’s Ambassador to Iraq, Hassan Danaeefar, stated that during the current Iranian calendar year, exports to Iraq are expected to reach USD12 billion, reported Xinhua News citing Tehran Times.
During the last calendar year, Iranian shipments to the Arab country stood at USD11 billion.
The Economic Development Committee of Iran and Iraq’s chairman, Ali Saeedlou, said in August that annual trade between the two countries could hit USD25 billion in the coming 2 years.
Saeedlou said that his country is developing several projects in Iraq’s energy sector, and is involved in other projects related to petroleum products, oil and gas issues.
Earlier this month, Ebrahim Rahemi, an Iranian energy official, noted that Iran would set up a power plant in Iraq to generate 163 MW of electricity for consumption in holy Shiite Muslim shrines.
Rahemi added that the construction of the power plant would cost USD97.68 million, with its first phase with a credit of USD32.56 million coming into operations soon.
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