Iraq to Establish $190m Energy Investment Company
By John Lee.
Iraq's Council of Ministers has approved the formation of a new private limited company focused on energy sector investments, with an initial capital of 250 billion Iraqi dinars (approximately $190 million), subject to increase.
The founding stakeholders include the State Employee Pension Fund and the Trade Bank of Iraq (TBI), while the Ministry of Oil - through the State Oil Marketing Organization (SOMO) and the State Company for Oil Products Distribution - and the Ministry of Electricity - via the State Company for Electricity Production (Central Region) - are also expected to participate. Additional public or private entities may join the initiative.
The move is part of the government's efforts to attract capital, mobilise domestic resources, and support long-term investment in Iraq's critical energy infrastructure.
(Source: PMO)
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