Iraq has finalised all the components of its planned interconnection project that will link its power grid with the Gulf Cooperation Council (GCC) grid except for pricing, the electricity ministry said in a press note. 

The statement said the Acting Minister of Electricity, Adel Karim, held a video meeting with the GCC Interconnection Authority (GCCIA) officials to discuss the decisions reached by the technical committee evaluating the project. 

The statement said the pricing component, which encompasses costs of energy, connectivity and transmission lines, is yet to be finalised. It added that the GCCIA reviewed the technical components and discussed ways to reach a satisfactory solution on the pricing front. 

The statement noted that project consultants have been appointed, the required financing obtained from the GCC funding agencies, and responsibilities for both sides have been completed. 

The acting minister recommended that the remaining procedures should be completed within the next two weeks. 

(Writing by Majda Muhsen; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com)

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