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Iraqi News
07-05-2025
- Business
- Iraqi News
Iraq to launch $119m energy investment corporation
Baghdad ( – In a strategic move to bolster its energy sector, Iraq has approved the creation of a new $192 million corporation dedicated to investing in energy-related projects across the oil-rich country. The decision, made by the Iraqi cabinet in Baghdad, marks a significant step toward unifying regional governmental efforts under one ambitious venture. According to sources, key stakeholders in the corporation include the State Pension Fund and the state-owned Trade Bank of Iraq. The new entity will focus on financing, developing, and managing energy projects, aiming to attract investment and improve infrastructure in the nation's critical energy sector. This initiative reflects Iraq's broader goals of modernizing its energy industry and increasing its role in the global energy market.
Zawya
07-05-2025
- Business
- Zawya
Iraq to form energy investment firm
Iraq intends to create a company with a capital of 250 billion Iraqi dinars ($192 million) to invest in energy projects inside the OPEC country. The cabinet, which met under Prime Minister Mohammed Al-Sudani on Tuesday, approved the venture, which will group several local public establishments. The venture will focus on investment, execution and operation of energy projects inside Iraq, a statement by Sudani's office said after the meeting. 'The new company will have a preliminary capital of IDQ250 million …the capital can be increased later,' the statement said. Shareholders include the State Pension Fund and the government-owned Trade Bank of Iraq, the statement said, adding that other parties can subscribe to the venture, including the Electricity and Oil Ministries, the State Organisation for Marketing of Oil (SOMO) and other Iraqi institutions. (Reporting by Deva Palanisamy; Editing by Anoop Menon) (
