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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.
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