Ministry of Electricity Signs Contract with Mass Holding Company and Council Approves Contract with Kar Company to Address Power Outages in Iraq

The Ministry of Electricity has signed a three-month contract with Mass Holding Company to provide electrical energy to the northern region and national system. This decision was made in response to the high demand for electricity during the summer peak load and in accordance with financial regulations. The current power outage in Iraq has been a source of frustration for citizens, especially with the extreme heat in some cities and governorates.

In addition, the Iraqi Council of Ministers approved another contract with Kar Company to supply electrical energy from Turkey at a reduced price for three months. This decision was also made to address the increased demand for electricity during the summer months. The Council also authorized the Minister of Finance to sign a financing loan agreement for the development of electricity production stations in various locations.

The Prime Minister’s media office issued a statement highlighting the importance of accelerating plans for the development of the electricity sector. The Council approved the inclusion of contracted projects as ongoing projects to facilitate the signing of loan agreements and ensure timely completion. This decision was based on the approval of borrowing in the Federal General Budget Law for the coming years.

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