Ministry of Electricity Pledges Iraq will be Energy Self Sufficient by 2014

Iraqi Minister of Electricity's energy self sufficiency pledge will be a key discussion theme at the Iraq Power Conference on 17 June 2013, Intercontinental Park Lane, London. End Quote

(1888PressRelease) April 27, 2013 - The Iraqi Minister of Electricity, Karim Al-Jumaili, has pledged the electricity crisis in Iraq will come to an end by the close of 2014. Iraq will generate 15,000 megawatts of power to become energy self-sufficient, providing Iraqi households and businesses with electricity 24 hours a day. The CWC Group's Iraq Power Conference, taking place 17 June 2013 at the Intercontinental Park Lane, London, will discuss the strategies Iraq needs to implement and the investment required to achieve the Minister's pledge.

The power industry is recognised by the Iraqi Government as a key sector in supporting the country's social and economic development. Iraq has allocated $112 billion, equating to 45% of its annual budget, to the development of the country's electricity sector and scheduled $250-$275 billion for spending on power infrastructure over the next 5 years, in a bid to meet power demand across the country.

Iraq Power will be the first major event to focus on Iraq's plans for private sector investment into the country's power industry. The Conference will discuss the current position and future growth of the industry, by exploring options for future fuel usage and boosting generation capacity to meet power demand across Iraq.

Nawar Abdulhadi, Conference Producer for Iraq Power further commented; "Representatives from the Ministry of Electricity and the World Bank will provide insights into the complicated laws surrounding investment into the industry and deliver comprehensive updates on the incentives for investment law legal provisions".

The Iraq Power Conference will be the first to gather the private sector and Iraqi Government officials to discuss power infrastructure in Iraq. The event will see discussion on the strategic future of Iraq's power industry, outlined by senior members of the Iraqi Ministry of Electricity and industry leaders and experts operating in the sector.

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