Iraq has completed more than 500 service sector reconstruction projects as it awaits the arrival of promised international donor funds.
Through a subsidiary company, the extremist alliance controls the price of winter fuel that residents rely on for heating and transportation.
The decision comes in response to recent US sanctions that seek to limit the activities of the Iranian regime that threaten international security.
The Ministry of Oil has put forward ambitious plans to restore all oil facilities to service at their former capacity and to develop them.
The joint project will see the establishment of an industrial city near the Trebil border crossing in western Anbar province.
The Iranian regime is seeking to ensure its future presence in Syria by establishing a dominant position in the country's economic sectors , experts say.
The project seeks, through various means, to improve the livelihoods of more than a million Iraqis in areas of the country liberated from ISIS.
The reopening of major national banks in east and west Mosul will help drive reconstruction and stimulate economic activity, officials say.
The local authority has been working with residents of Mosul's Old City to restore destroyed shops and marketplaces and revive the economy.
The Salaheddine 2 unit will return to operation this month with a 70,000 barrels per day capacity, with Saleheddine 1 slated to reopen later.
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