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Iraq Overhead Power Transmission Line Industry Analysis
The Overhead Electric Power Transmission Lines industry in Iraq is currently facing several challenges that are impacting its growth and development. Despite the fact that the country has significant oil and gas resources, the industry has been struggling to meet the increasing demand for electricity in the country. This has resulted in frequent power outages and blackouts, which have had a negative impact on the economy and the quality of life for Iraqi citizens.
One of the major drivers for the industry in Iraq is the need to improve the country's electricity infrastructure. The government has recognized the importance of addressing this issue and has launched several initiatives aimed at expanding and upgrading the transmission network. For example, in 2020, the Iraqi Ministry of Electricity announced plans to invest USD 3 billion in the construction of new power transmission lines and substations over the next four years. The goal of this investment is to increase the capacity of the country's transmission network and to reduce the frequency of power outages.
Another driver for the industry is the growing demand for electricity in Iraq, which is being driven by a rapidly growing population, urbanization, and industrialization. According to the International Energy Agency (IEA), electricity demand in Iraq is expected to grow by an average of 7% per year between 2019 and 2040. To meet this demand, the industry will need to continue to invest in the expansion and upgrading of the transmission network.
In terms of construction of new projects, the industry has several projects in the pipeline. For example, in 2020, the Iraqi Ministry of Electricity signed a contract with a Chinese company to build a 400-kV transmission line between the cities of Dhi Qar and Basra. The project is expected to increase the transmission capacity between the two cities and to improve the reliability of the power supply in the region. Additionally, the government is planning to build a new 400-kV substation in the city of Nasiriyah, which will help to improve the efficiency of the transmission network and reduce losses.
Looking ahead, the industry outlook in Iraq is cautiously optimistic. While the country faces significant challenges, such as political instability and a lack of investment in the electricity sector, there are signs of progress. The government's commitment to expanding and upgrading the transmission network, as well as increasing the use of renewable energy sources, is a positive development that is likely to drive growth in the industry over the coming years. However, it will be important for the government to continue to invest in the sector and to address the underlying challenges in order to ensure the long-term sustainability and growth of the industry.
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