Iraq signs $349m Power Deal with Greece’s Metka

Reuters reports that Iraq signed a $349 million contract with Greek power plant builder Metka, a subsidiary of the Mytilineos Group, on Wednesday.

The Shat-Al-Basra Power Plant Project will be a gas-fired, 1,250-MW power plant in southern Iraq.

It comprises 10 units of 125 MW each, which were purchased from General Electric in a contract signed in 2008.

Deputy Electricity Minister Salam Qazaz said the ministry plans to add 22,000 megawatts of production capacity across Iraq over the next three years, which would triple the current capacity.

(Sources: Reuters, Metka)

One Response to Iraq signs $349m Power Deal with Greece’s Metka

  1. H. Sugar November 25, 2011 at 10:52 am #

    Will the current economic situation in Greece have any negative impact on this? Isn’t it at all odd that Iraq signed a contract with a company from a country that was among the most affected by the harsh global economic climate?!