Iraq talks investment with Indian delegation

Iraqi Deputy Prime Minister Hussein al-Shahristani called on a visiting Indian delegation to make much-needed investments in Iraq`s energy, industry and housing sectors.

Baghdad: Iraqi Deputy Prime Minister Hussein
al-Shahristani on Sunday called on a visiting Indian delegation to
make much-needed investments in Iraq`s energy, industry and
housing sectors.

"Shahristani discussed the means for Indian investment
and developing the industrial and oil sectors in Iraq with an
Indian delegation," according to a statement from his office.
Shahristani`s position includes particular responsibility
for energy issues.

"Iraq encourages foreign companies to enter the Iraqi
markets through investment and rebuilding infrastructure,"
Shahristani said.

He also called on "Indian companies to invest in low-cost
housing, because the country really needs it."

The Indian delegation was made up of 15 companies
specialising in sectors including oil, gas, automobiles,
agricultural vehicles, housing and health, the statement said.

Iraq currently produces around 2.9 million barrels per
day (bpd), with exports of crude accounting for the lion`s
share of government income, but seeks to be capable of
producing 12 million bpd by 2017.

Iraqi National Investment Commission Chairman Sami
al-Araji said in August that that new housing was the
country`s top priority in terms of attracting foreign
investment. Iraq is seeking to build one million new housing
units nationwide in the coming years.

PTI

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