German Company Lands $625m Iraq Power Contract

AKnews reports that the German energy firm MBH has landed a $625 million contract to build five 100-MW power plants in Nineveh province.

The Iraqi electricity ministry announced the deal on Wednesday, saying that the project is expected to be completed in 21 months.

The establishment of the plants is part of the government’s plan to plug national grid shortages – a central gripe in the nationwide wave of public protests earlier this year – which leave some provinces with just eight hours of national power per day.

According to AKnews, the Electricity Ministry spokesman Mosaab al-Muhandis said that the company will be paid in full one year after the completion of the project, while AFP reports that payment will begin one year after commissioning and will be spread over two years.

(Sources: AKnews, AFP)

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