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Iran to invest $1B in Iraq's projects

Tehran, Sept 5, IRNA-Visiting Iraqi Agriculture Minister and Acting Minister of Roads and Transportation Yuarib Nadhim al-Abudi conferred here Tuesday with Minister of Road and Transportation Mahmoud Rahmati on expansion of mutual cooperation between Iran and Iraq.

At the meeting, Rahmati said the Islamic Republic of Iran is to invest some dlrs one billion at various projects such as energy, oil and transportation to help rehabilitate Iraq's ailing economy.

Islamic Republic of Iran Shipping Line (IRISL) is to renovate and equip one of Iraqi ports in Um al-Qasr, he said.

Underlining the need to further broaden mutual cooperation, he said an special committee has been formed at Iran's Foreign Ministry which plays a significant role in running construction projects.

Iranian flights are conducted with a number of restriction imposed by American forces, he pointed out.

Feasibility studies for rail tracks linking Khorramshahr in Iran to Basra in Iraq is now underway, he said.

Despite of existing obstacles in communications and transportation, he said, "We have witnessed a growth in the sector between the two countries."

The Iraqi minister, for his part, said the positive views and supports of Iranian officials have created a good motives for forging mutual cooperation and existing problems on visa issuance and methods of investment is to be removed in the near future, he said.

In conclusion, the Iraqi minister underlined the need to further activate cooperation in ports, sea, air and land transportation between the two countries.

... Payvand News - 9/6/06 ... --

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