Iraq needs US$20 billion investment to cover electricity needs
Re-constructing Iraq's electricity sector would require a US$ 20 billion for a normal production of electrical energy, an Iraqi official conveyed on Sunday. Speaking at a news conference, the Iraqi Minister of Electricity Abd Al-Muhsin Shalash said his country is currently producing 5,300 megawatt of electricity and hopes to reach 6,000 by next month. However, he added that Iraq needs some 18,000 megawatt and plans were made to reach this level by 2010.
To compensate the current electricity shortage, Shalash said an agreement was made with Kuwait, Syria and Iran. According to Kuna, he didn't rule out the option to set up joint electricity grids with Jordan and Egypt, even though he noted the financial and technical difficulties involved.
The minister disclosed that Germany will for the first time supply Iraq with electricity projects during the coming two years, indicating that Iraq has taken a US$1 billion loan from Iran to allocate it for generating electricity and other social projects in the country.