Iran to Earn $5bln by March from Energy Exports to Iraq
Tehran will raise $5 billion revenues for its gas and electricity exports to neighboring Iraq by the end of the current local calendar year on March 20, 2020, said Secretary General of Iran-Iraq Joint Chamber of Commerce Seyed Hamid Hosseini on Tuesday.
Hosseini said today that Iran will earn $5 billion revenues for its gas and electricity sales to neighboring Iraq this year.
Iran’s technical and engineering projects, which had been stopped in Iraq due to terrorist activities, have resumed, Hosseini added.
“In the wake of expert-level sessions held between Iraqi Housing Ministry and Iran Small Industries and Industrial Parks Organization (ISIPO), it is stipulated that Iranian projects halted in Iraq will resume," he said.
Accordingly, some of these projects have been relaunched and other projects, mainly technical and engineering projects, will start activity soon, Hosseini highlighted.
Meanwhile, new projects will be commissioned in neighboring Iraq by the year-end.
Presently, projects such as sports stadium, water and sewage projects and also housing projects, which had been stopped in Iraq due to the presence of ISIL terrorists, will restart their work, he continued,
Elsewhere in his remarks, Hosseini pointed to organizing Iran-Iraq Joint Economic Forum and added, “this Forum will be held on July 21-22 in Iraqi capital Baghdad in the presence of relevant officials and organizations.”
Earlier, various issues such as construction of industrial parks, transit of goods and development of railways had been discussed between the two countries, he said, adding, “These issues will be reviewed in this joint commission.”
Iran exports non-oil commodities such as cement as well as gas and electricity to Iraq. In the year between March 2018 to March 2019, Iran exported close to $9 billion of products to Iraq registering 37 percent growth compared to the preceding year.
The two countries' officials have set the target of $20 billion per year for Iran-Iraq trade.
source: Farsnews
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
Families gather at South African mine shaft where hundreds are feared stuck underground
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project