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FINANCIAL NEWS
Iraq awards $28m contract to Alstom
25 Oct 2010
(MENAFN) French engineering group Alstom has won a contract worth $27.8 million with Iraq to repair a power plant unit in Najaf, to be signed before the end of October, Reuters reported.
Alstom commented that the unit, which has been damaged for five years is expected to be reconnected to Iraq’s electricity grid by summer of next year.
An initial agreement was signed by the French firm last July to repair the power station. It was understood that there would be another power plant that could be valued at $2 billion near Basra that would supply substations in various locations of Iraq.
Iraqi Oil Minister Hussain al-Shahristani, said the country?s electricity consumption is expected to rise by 10 percent every year over the coming 20 years.
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