Iraq's electricity sector requires $5 billion of investments


MENAFN - 07/07/2003

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Iraq's US civilian administrator said that the country's sabotage-plagued electricity network needs $5 billion if investments over the next five years to meet rising demand, the Bahrain Tribune newspaper reported.

The official said that estimates show that the electricity sector will need an investment of more than $1 billion a year for the next five years just to provide enough power for the current demand.

The official added that the main problem is that there is not enough power generation in the entire country to meet the current needs, let alone the future needs, amid rising concern the sweltering summer engulfing the country may have to be endured without basic services like power.

According to the official, before the political sabotage took hold three weeks ago the power in Baghdad was at the level of around 1,300 megawatts a day, indicating that such an energy level would to serve Baghdad with 18 to 20 hours a day.

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