US pressure gets GE onboard for power contracts in Iraq, sets Siemens aside


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US pressure gets GE onboard for power contracts in Iraq, sets Siemens aside

General Electric Co., an American multinational conglomerate, headquartered in Boston, had been poised for multi-billion-dollar significant power contracts in Iraq to rebuild its war-struck electricity system, however, Iraqi government had pledged the contracts to Germany’s Siemens AG at the first place, but following a phone call between Iraqi finance minister with US secretary of State Mike Pompeo, Iraq had decided to divide the orders between GE and Siemens, pointing towards a spineless act of a government following years of wars and tears, people with direct knowledge over the subject-matter had unveiled on Saturday, the 15th of June 2019.

In fact, back in last October, Iraqi government had signed a five-year roadmap agreement with Siemens AG and General Electrics, in which the war-struck nation had agreed to spend about $14 billion on new power lines, plants, repairs alongside equipment to use natural gas that had been flaring off for over a decade.

On last April, Iraqi Prime Minister had been quoted saying that the German company had been well-placed to win the bulk of the order, however, sources familiar with the talks had revealed that following a meretricious US lobbying on contracts, Iraq was forced to ask both Siemens and GE to bid on the project, while GE was expected to receive a hefty bulk of the contracts.