Total funds allocated to Electricity Ministry reach $ 37 billion, says official

Baghdad (IraqiNews.com) The Ministry of Electricity announced that the total budges allocated to the Ministry over the past ten years reached $ 37 billion.

The spokesperson of the Ministry, Musab al-Mudaris, said “The total funds allocated to the Ministry over the past ten years are up to $ 37 billion except the budget of 2013 where these funds were divided into the investment budget and the operational budget along with the financial guarantees that were reserved at the Development Fund of Iraq (DFI) in Washington.”

“The investment budget reached $ 14 billion, 50% of it was allocated to the power production sector to establish generation stations, and 30% of the investment budget was assigned to the power transmission sector as well as 20% for the power Distribution sector,” he pointed out.

“The production capacity for the national electricity grid reached approximately 11000 mega watt with 7000 mega watt increase if compared with the grid’s production in 2003,” he assured noting “New production capacities will join the service by end of 2013 and 2014.”

“We renew our promise to end the electricity crisis by end of 2013,” he concluded.