Baku, Azerbaijan, Oct.24
By Fatih Karimov - Trend:
Iranian companies are implementing 31 water and electricity projects in Iraq, worth over $1.3 billion, Bahram Nezamolmolki, an Iranian Energy Ministry official, said.
Nezamolmolki said just two projects, worth $30 million, are being implemented in Iraq by Iraqi companies, Iran's IRIB reported on October 24.
He said it is expected that more Iranian companies will invest in water and electricity projects in Iraq in the future.
Iranian ambassador to Iraq Hassan Danayeefar said in April that Iran exports 80 percent of its technical and engineering services to Iraq.
He said at the time that Iraqi market is capable to absorb $500 billion worth of investment in the technical and engineering sector.
The year 2013 registered high levels of commercial exchange between Iraq and Iran, which reached - according to both Iraqi and Iranian officials - more than $12 billion.