Baghdad: Prime Minister Mohammed Shia al-Sudani has confirmed the adoption of an investment-based economic model for electricity production, aiming to alleviate the pressure of production costs. This announcement was made during the launch of the executive work on the Al-Yusufiya thermal power plant project, which boasts a total capacity of 1400 megawatts.

According to National Iraqi News Agency, the Prime Minister acknowledged the collective efforts that have contributed to the initiation of the Al-Yusufiya project, which had been stalled since 1990. The government is committed to completing this project to enhance the capabilities of the national electricity grid.

Al-Sudani highlighted that the electricity sector has undergone modernization, expansion, and development during his administration's tenure, aligning with the broader national development goals. He emphasized the significance of completing the energy cycle, which includes production, consumption, and billing, while steering away from ineffective policies that strain the state budget without yielding sufficient financial returns to offset expenses.