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FINANCIAL NEWS
Alstom to build power plant in southern Iraq
29 Jul 2010
(MENAFN) AFP reported that Iraq and Alstom have signed a memorandum of understanding (MoU) for the French energy infrastructure firm to build a power plant in southern Iraq, in addition to restoring an existing power plant that it built in Najaf 35 years ago.
Alstom will build the 1,200-megawatt power station between Najaf and Basra ? an area which suffers a severe electricity shortfall. Under the agreement, the company will also train Iraqi engineers and technicians, according to the report.
The new plant deal is predicted to cost between $1.5 billion and $2 billion, sources with knowledge of the agreement said.
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