India’s Lanco Wins $81m Anbar Power Contract

Lanco Infratech Ltd. (LANCI) of India signed an $81.3 million contract to build a gas-fired, 250-MW power station in western Iraq.

Masaab Serri, an Electricity Ministry spokesman, told Bloomberg that the company is scheduled to build the plant within 16 months in Al-Qaim, in Anbar province in western Iraq, using natural gas from the nearby Akkas field, which the Iraqi government has recently awarded to Korea Gas Corp (KOGAS).

The country sought bids this year to build more than 60 generation plants to add more than 14,000 megawatts to the national grid. Iraq currently produces 7,000 megawatts and imports 1,000 megawatts while domestic demand totals about 14,000 megawatts, Iraqi Electricity Minister Raad Shallal said in April.

(Sources: Dow Jones, Bloomberg)

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