Friday, May 30, 2008

Iranian Investment in Iraq

From the Washington Times:

Iranian Foreign Minister Manouchehr Mottaki told participants at an international conference attended by Secretary of State Condoleezza Rice that companies from the Islamic Republic were outpacing most others in the region in their contributions to Iraq's economic development.

"Iranian companies have undertaken some economic projects and public works in Iraq to contribute to the economic development of this country, both in the south and in the north," Mr. Mottaki said at the Stockholm conference.

He did not elaborate on private investment, but he offered more details on Iranian government-funded undertakings in Iraq's railroad, electricity and oil sectors. "To meet Iraq's intense need for electricity, a contract for construction of nine power transmission lines from Iran to Iraq with a capacity of 2,000 megawatts has been signed," he said.

At the same time, Iraqi Vice President Adil Abdul Mahdi is in Tehran visiting President Ahmadinejad, for the purpose of discussions on economic issues and services, as well as political and security matters.

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