Arab News Japan

DUBAI: Japan’s Toyota Corporation and Iraq’s Ministry of Electricity agreed to develop electrical networks and capacities of the Iraqi electrical system in a signed deal on Feb. 29.

Iraq’s Minister of Electricity, Ziyad Ali Fadhel, presided over the signing of the MoU with Toyota, in the presence of the Japan’s Ambassador to Iraq, MATSUMOTO Futoshi.

Fadhel expressed his appreciation for Japan’s role in in supporting Iraq and the contribution of Japanese companies to its reconstruction efforts, especially in the energy sector.”

He also called for foreign companies to seize investment opportunities in the electricity sector.

A statement from the Iraqi Ministry said: “The MoU stipulates that the Japanese company will finance and implement several projects in the production, transmission, and distribution sectors, and joint committees will be formed between the parties to identify the proposed projects for implementation and their priorities.”

On X, Matsumoto said that it was a “great pleasure” to attend the signing ceremony, adding that the project is the “second phase of constructing electric substations across Iraq through the Buyer’s Credit Scheme of Japan Bank for International Cooperation (JBIC).”

It was a great pleasure for me to attend today the signing ceremony between Ministry of Electricity and Toyota Tsusho for further cooperation in the field of electricity. The project signed today is the second phase of constructing electric substations across Iraq through the… pic.twitter.com/1gDBSOhrQl

— Futoshi Matsumoto 🇯🇵🇮🇶 (@JAPANAmbIRAQ) February 29, 2024