Iraq, Qatar sign bilateral MOUs
Iraq and Qatar have signed memorandums of understanding (MOUs) with Qatar’s private companies in the fields of energy, electricity and construction.
The MOUs were signed when Qatar’s Emir Sheikh Tamim bin Hamad al-Thani arrived in Baghdad on an official visit to discuss regional political matters and enhance bilateral relations.
Qatar’s Emir is visiting Baghdad on an invitation by the Iraqi Prime Minister Mohammed al-Sudani, said a government spokesman, Basim al-Awadi.
According to a government statement, several memorandums of cooperation in the energy sector were signed, including agreements related to crude oil, liquefied gas supply to Iraq, the establishment of a joint oil company and the construction of an oil refinery.
Two memorandums of cooperation on investment part were inked with the Qatari Investment Holding Company, focusing on the development of new cities and the construction and enhancement of hotels, according to the statement.
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UrbaCon Trading & Contracting and Elegancia Healthcare Companies were among the Qatari private firms that signed agreements on Iraq’s health sector investment opportunities.
Qatar is interested in having a major investment role in a $17 billion road and rail project to link Asia and Europe, said the government spokesman Basim al-Awadi.
Iraq launched a mega-project last month to link a major commodities port on its southern coast by rail and roads to the border with Turkey, in a move designed to transform the country’s economy after decades of war and crisis.
Qatar is a partner in TotalEnergies’ $27 billion energy cluster of energy projects in Iraq, with a 25% stake. Iraq’s Basra Oil Company holds a 30% share in the project with the remainder with TotalEnergies.
