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21-10-18
Siemens to boost power capacity in Iraq by 11GW
(MENAFN) Siemens secured a memorandum of understanding for increasing the power production capacity in Iraq by 11 gigawatts.
The German industrial company was able to achieve a deal with the Iraq electricity ministry after its rival GE was assumed to be ahead of it in making Iraqi power agreements.
The industrial firm explained that the agreement is to assess "a series of short, medium and long-term plans to meet the reconstruction goals of Iraq and support the country's economic development."
It comes after the firm showcased a power rehabilitation roadmap for Iraq, with a plan to boost the existing 50 percent of generating capacity, in line with a USD15 billion contract.
MENAFN2110201800450000ID1097596759
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