Iraq needs over $400 billion investments- VP

BAGHDAD / IraqiNews.com: Iraqi Vice President Adel Abdelmahdi said that Iraq has become a strong magnet for investors, adding that it needs more than $400 billion worth of investments. The remark was made during his meeting with a delegation comprised of representatives of Japanese companies and the Japanese ambassador to Baghdad, Shoji Ogawa, according to a presidential statement received by IraqiNews.com news agency. “Japanese oil companies have presented significant projects to Iraq, including the establishment of an oil refinery with a capacity of 300,000 barrels a day…,” according to the statement. Japanese firms are willing to work in Iraq in the fields of crude oil production and electricity, it added. SS (P) 1