Iraq and Saudi Arabia signed a joint cooperation memorandum aimed at improving the efficiency of Iraqi power plants, while Jordan announced expanding its electrical grid connection with Iraq to 200 megawatts to enhance energy exchange, benefit from production cost differences, and promote reliance on clean energy sources.

The memorandum was signed in the presence of Iraqi Electricity Minister Ziyad Ali Fadel and Saudi Investment Ministry Assistant Ibrahim bin Youssef Al-Mubarak. It includes technical and operational cooperation such as treating oil waste at the Al-Khairat power plant in Karbala to improve environmental performance and operational efficiency, reusing industrial water at the second Hilla power plant, and advanced water treatment solutions at power generation stations across the country. It also covers cleaning pipelines at the Al-Musayyib gas plant using modern nitrogen gas technologies to increase readiness and reduce malfunctions.

Jordan’s Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, confirmed plans to expand the electrical connection with Iraq from 40 megawatts to 200 megawatts. He emphasized that the grid connection is not only about supplying electricity but also about energy exchange between countries to benefit from cost differences. The goal is to achieve synchronous connection allowing energy exchange anytime, enabling Jordan to benefit from cheaper Iraqi electricity and vice versa. He noted the global shift towards energy transition and reliance on green energy sources and highlighted Jordan’s strategic projects for green hydrogen production integrated with the economic corridor linking India, the Arabian Gulf, and Europe.

Iraq’s Central Bank Governor Ali Al-Allaq revealed that Iraq currently experiences its lowest inflation rates and holds comfortable foreign reserves capable of defending the exchange rate. He described the current phase as characterized by stability, reform, and openness to investment, with the central bank playing a key role in monetary and financial stability, inflation control, and supporting economic initiatives.

Additionally, Border Ports Authority Chairman General Omar Al-Waeli announced the imminent establishment of new border crossings in the provinces of Najaf, Maysan, and Anbar, designed to reflect Iraq’s status, boost revenues, and encourage investment.