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FINANCIAL NEWS
Iraq seeks to increase electricity generating
24 Nov 2010
(MENAFN) Laith Al Mamury, the head of investments and contracts at Iraq�s Electricity Ministry announced that the country plans to increase its power generating capacity by 30 percent in the next few years, by asking for bids on power plant projects to install and run 22 gas turbines, valued at $40.25, Reuters reported.
According to Mamury, the ministry has already purchased turbines from General Electric, by means of delayed payments, and plans to ask companies to build plants in four provinces in order to be able to sell the power back to the government.
The power-starved country hopes to triple its electricity capacity to 27,000 megawatts from the current 9,000 megawatts within four years, said Mamury.
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