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FINANCIAL NEWS
Iraq, Capgent sign USD1.66b power plants deal
04 Jul 2011
(MENAFN) Iraqi electricity ministry spokesman, Musa’ab Al Mudaris, said that in order to reduce electricity shortages in the country, the ministry signed a USD1.66 billion agreement with Capgent, the Canadian company to establish 10 fuel oil fired power plants, reported Gulf News.
Al Mudaris added that each power factory would provide 100 megawatts of electricity, furthermore, the constructing of the plants would span over a period of twelve months from start date.
He also said that the new plants, which would be established in Anbar and Salaheddin provinces, were part of 50 power stations that the government planned as an emergency procedure to compensate electricity shortages in Iraq.
It is worth noting that Capgent, also known as the Canadian Alliance for Power Generation Equipment, is a Vancouver based company that builds thermal and diesel power plants.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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