Three Qatari companies announced the signing of agreements with the Iraqi National Investment Authority to develop projects worth up to $9.5 billion in Iraq, which include the construction of two power generation stations with a total capacity of 2400 megawatts. The Qatari company "Orbakon Trading and Contracting" stated in a statement that a 25-year partnership agreement was signed with the National Investment Authority on Thursday to build the power stations at a cost of $2.5 billion. The two stations will help Iraq reduce its reliance on Iran for its energy needs.
Additionally, "Investment Holding Qatar" announced the signing of three memoranda of understanding valued at $7 billion to manage hospitals, develop "two new modern integrated cities," and construct a new chain of five-star hotels with a total of ten thousand rooms. The company's Vice President, Ramez Al-Khayat, mentioned that "the cities will be planned according to internationally recognized standards and will include residential complexes, villas, schools, commercial complexes, recreational cities, and other facilities and services in addition to all the necessary basic infrastructure for these cities."
The agreements were signed during the visit of the Emir of Qatar to Baghdad, where he pledged investments of up to $5 billion in Iraq.
