Jul 23, 2014, 2:15 PM
News Code: 2732180
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Iran firms active in Iraq

Tehran, July 23, IRNA - Iranian companies are operating $1.245b of water and electricity projects in neighboring Iraq, said Energy Minister Hamid Chitchian.

“Iraq is a big market for exporting technical and engineering services in the electricity industry,” SHANA quoted Chitchian as saying on Wednesday.

“Iraq is a country with huge oil reserves and is awash with oil exports revenues. This country has enough resources for development and enjoys a big and diverse market,” he added.

Chitchian said Iranian companies should grab the opportunity to win five to ten percent of the $275b projects Iraq is envisaging to invest in through 2013 to 2017.

He referred to the country's 1,400-kilometer shared border with Iraq, saying that the companies of both the neighboring states should team up for more cooperation.