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Iraq begins work on two projects within the Chinese agreement
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Economy News - Baghdad
The financial advisor to Prime Minister Mazhar Muhammad Salih said that Iraq started working on two vital projects in the oil and energy sectors within the agreement signed with the Chinese side.
Saleh said in a dialogue held in cooperation with the Iraqi Economic and Political Center, that "the agreement entered into force as of October 1 and since the beginning of this year, nearly half a billion dollars has been entered into the balance of the sovereign account of Iraq with China."
He pointed out that this return is the result of "exporting 100 thousand barrels per day" and it will be spent to finance infrastructure projects in Iraq.
The financial advisor emphasized that "Iraq started work on two projects within the Chinese agreement, namely: building a project for a thermal power station in northern Baghdad with a capacity of 1400 megawatts and a project for strategic oil storage in southern Iraq."
He pointed out that the agreement with China extends for 20 years to rebuild dilapidated infrastructure in Iraq.
Saleh added that Iraq is likely to raise its oil exports to China to 300 thousand barrels per day instead of 100 thousand b / d if he sees his interest as necessary.
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