Siemens, Orascom rubberstamp deal to rebuild Iraqi power plant


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Siemens, Orascom rubberstamp deal to rebuild Iraqi power plant

On Saturday, the 14th of September 2019, Cairo-based construction firm Orascom and Munich-based Siemens had reached an accord with the Iraqi government of PM Adil Abdul-Mahdi to rebuild two power plants located at the Northern part of the country, infrastructure of which were terribly impacted during a protracted US-Iraq military combat.

Nonetheless, when operational, the two power plants would likely to deliver a combined capacity of 1.6 gigawatts. Aside from that, followed by the agreement with the Iraqi government on Saturday (September 13th), Munich-based Siemens had issued a statement saying that the work on Baiji Facility, located about 250 km North of Baghdad would commence after a financial accord was reached with the Iraqi Finance Ministry and the deal was approved in the Iraq’s Council of Ministers.

In point of fact, Iraq had signed a five-year roadmap accord with Siemens AG alongside United States’ General Electric on last October, under which the war-struck country had planned to expend a lump-sum of $14 billion on rebuilding war-damaged plants, repair works of power lines alongside development of critical equipment to capture a hefty sum of natural gas of the energy-rich Middle East country which was being flared off for the moment being.