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Iraq signs a new financing agreement for Gulf connectivity
6/13/2024
Baghdad -
The Minister of Electricity, Ziad Ali Fadel, announced today, Thursday, the signing of the second financing agreement between the Gulf Electricity Interconnection Authority and the Kuwait Fund for Arab Economic Development.
The minister said in a statement received by Mawazine News Agency, after signing the agreement in the State of Kuwait, that “concluding this agreement is a strategic step towards enhancing the stability of the electrical network in southern Iraq, and represents fruitful cooperation between Iraq and the Gulf countries in the energy sector.”
Fadel praised "the efforts of the Gulf Electricity Interconnection Authority in achieving this important achievement, which will contribute to improving energy efficiency and meeting the needs of our people." Iraq had concluded an agreement with the Gulf Interconnection Authority, to connect the southern Iraq network to the Gulf electricity network, with a length of (295) km, by extending overhead transmission lines with a voltage of (400) kilovolts from the Wafra station in the State of Kuwait, to the Al-Faw station in the far south of Iraq. And providing it with a capacity of up to (500) megawatts in the first phase, and (2000) megawatts in the second phase.
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