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Iraq starts electricity debt repayment to Iran

Tehran, Minister of Energy Reza Ardakanian says Iraq has started repayment of its debt over electricity imports from Iran.

Ardakanian told reporters on Friday that Iraq repayment of debts to Iran over its electricity imports from the country has been planned and the process of payment is underway per discussion made to that end.

He made the remarks on the sidelines of several contracts and Memoranda of Understanding signed in electricity industry by the Iranian and Iraqi officials.

He said the contract for cooperation between Iran and Iraq is valid for three years.

'We are to turn into hub of energy in the region; so it will be natural to be concerned of the neighbors' development. Iran enjoys extensive capacity and is ready to share it with the neighbors per contracts inked in that connection.'

He said Iran intends to reach regional markets through cooperation with Iraq.

Source: Islamic Republic News Agency IRNA

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