Iran Iraq

Iraq sets up SPV to buy Iranian power in wake of US sanctions: Report

AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.

Money and Capital Markets

US grants energy-hungry Iraq new Iran sanctions waiver: Reports

According to reports, Washington has given Baghdad a 90-day sanctions waivers to keep buying Iranian gas and electricity to meet summertime peaks of demand.

Energy

Iraq has no alternative for Iranian energy imports: Minister

The Iraqi minister of energy says he is optimistic his country will get second US sanctions waivers as Baghdad has no other alternative sources to replace the Iranian gas and electricity.

Energy

Iraq not seeking to substitute Iranian gas, electricity: Ambassador

The Iraqi envoy to Iran says although there are substitutes for Iranian energy, Baghdad maintains committed to imports from Iran and that is lookig for alternative ways of doing so.

Energy

Kalleh Dairy vows to rebuild torched down factory in Iraq ‘from today’

The dairy, food and drink company says the blaze that brought the company down to ashes was intentional, saying it will restart construction in Karbala very rapidly in a bid not to lose the huge market in Iran’s western neighbour.

Trade

Iranian ministry, holding company sign deal to develop Shalamche-Basra railway in 2 years

The partnership deal means Iran starts the construction of the railroad that will pass over border river Arvand. Tehran says it will take 2 years to complete the project.

Transportation

Iran, self-sufficient in power plant construction: MAPNA Group

The announcement comes after the giant heavy energy infrastructure said it had designed, developed, produced and supplied from A-Z all components of a very vital gas turbine, called MGT-40.

Energy

Iran opens new steel mill to up annual output by 250k tons

The new company, located in the west of Iran, is supposed to add to the country’s annual steel production, as well as export the crude product to the neighbouring countries of Iraq and Syria.

Mine and Industry

Tehran municipality eyes big infrastructure projects in Baghdad

The Iranian capital mayor has held talks with Baghdad officials in a bid to open door for his municipality to enter in construction of a metro in the Iraqi city as well as renovate its urban architecture and help manage residuals.

Society Economy

Iraq, Iran, Syria to accelerate preparation for transnational railway

Iran seeks to connect its Persian Gulf to the Mediterranean Sea through road and rail links that go through Iraq. The groundwork has been laid for the construction as Tehran has signed several agreements with Damascus and Baghdad.

Transportation