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FINANCIAL NEWS
Iraq to award USD3b power plants contracts
08 Feb 2012
(MENAFN) Iraq’s Electricity Ministry said that as part of a 3-year plan to increase power capacity, this month, the ministry plans to award 7 power plants deals with a combined value of USD3 billion, reported Gulf News.
The ministry added that in a period of two weeks, the government expects to give the sites to the winning companies that are bidding for the orders to set up 7,000 megawatts of electricity generation.
It also said that it has inked deals with General Electric and Siemens AG for the equipment needed to produce the plants.
It is worth noting that companies from Iran, Europe, Egypt and South Korea are bidding for the projects.
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