Buoyed by the strategic alliances in Jordan for supply of electrical equipment, meat and dairy products and consumer electronics, a 30-member Federation of Indian Chambers of Commerce and Industry business delegation is visiting Baghdad to meet the newly appointed ministers and representatives of the UN bodies for renegotiating their contracts worth Rs 500 crore (Rs 5 billion).

"We are scheduled to meet the ministers of trade, oil, electricity and industry and representatives of the UN agencies like World Food Programme, UNDP, UNICEF and WHO," Anil Agarwal, chairman of the India-Iraq Joint Business Council, told PTI in New Delhi on Monday.

He said apart from discussing the issue of revalidation of contracts worth Rs 500 crore under the oil for food programme, some of the companies in the delegation will also participate in the tender for supply of telecom hardware.

"Many companies are joining hands to bid in the global tender which closes on August 15," he said.

Cosmos International - which has tied up with Al Ghanim - is bidding for the Basra line, Agarwal, who is the president of Cosmos International, said.

The delegation includes representatives from Maruti, B B Overseas, LT Overseas, Apollo International, STC, Usha International and Bajaj International, he added.