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Iraq to eliminate electricity shortages by
2010
26.3.2007
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March 26, 2007
BAGHDAD -- The Iraqi Minister of Electricity
said that his country intends to put an end to
electricity shortages by mid-2010, hoping to
finalize annual investments at a value of $2
billion, the Iraq Directory reported.
The minister stated that the ministry expects to get
around two billion dollars annually in funds from
the government over the next four years and that the
rest must be compensated through investors or
donors.
At the moment Iraqi investors are building three
power stations with capacities of 500 megawatts in
the Northern Kurdistan region.
He also said that foreign investment is quite
difficult this year due to the lack of security,
though next year has possibilities.
Iraq has recently approved a law regulating foreign
investment. The law will be followed by another one
on oil investment which is expected to be passed
late this May.
The Iraqi Minister of Planning stated earlier that
approximately 35 percent of the funds which have
been pledged for during a donor conference in Madrid
in 2003 were delivered.
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