Iran may finance private company projects in Iraq through credit bank account
Date
6/26/2020 2:13:23 AM
(MENAFN- Trend News Agency) TEHRAN, Iran, June 26
Trend:
Iraq is looking to strengthen its power Network and import electricity from other countries, said the vice chairman of Iran Electrical industry Syndicate Payam Bagheri, Trend reports via Mehr News Agency.
"Significant amount of Iran's electricity export is destined for Iraq, due to this country's high demand. Iran's power export during peak days reaches 1,200 megawatts, but considering the sanctions, there have been some issues regarding the electricity trade," Bagheri said.
He said Iraq has paid half of its delayed payment to Iran during the Islamic Republic energy minister's visit there, and the other half of the total $1 billion is expected to be paid in the near future.
"Money transfers have always been an issue in power export," he added.
"Iran has recently signed a 2-year power export contract with Iraq, which was a good move. Iraq is under the US pressure, but it has extended the sanctions waiver to import electricity from Iran," Bagheri said.
Still the money transferring issues remain, and Bagheri believes that one of the possible payment solutions is to open a credit bank account in Iraq, where from Iran's private companies can finance their projects and/or tenders.
"Iran has the capacity to become an energy hub in the region, and export electricity to other countries, including Pakistan, Afghanistan, Syria, Lebanon and the Persian Gulf states," said the official.
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