Wednesday, May 09, 2007


$2.5 bn. annually required to rebuild Iraq's electricity sector

(Iraq Directory) - Iraqi Minister of Electricity, Kareem Hassan, said that Iraq must attract between 2 billion and $ 2.5 billion annually from international aid and investments to be able to rebuild the electricity sector. The Minister is in London to request help from energy companies, including B.B.
In an attempt to improve electricity, it has been agreed to a ten-year plan in 2006 with the assistance of the international community to add about 2000 megawatts to the generating capacity of the current 5000 megawatts. Hassan said that funding will come from the government budget amounting to 2 billion dollars annually, but the total cost ranges between four billion and $ 4.5 billion, which leave a shortfall of between 2 billion to $ 2.5 billion.
The minister continued, "we urge the donors to implement the commitments they have made in Madrid conference (for rebuilding Iraq) ... We also urge the sectors of electricity to contribute". He said that he is holding meetings in UK with all major electricity companies and with B.B concerning the gas project in the south of the country. Hassan added: "We discussed with them the main plan of gas as well."

Labels: , ,

<< Home

This page is powered by Blogger. Isn't yours?