METKA Signs $1bn Iraqi Power Deal

By John Lee.

Greek construction company METKA, a subsidiary of the Mytilineos Group, has announced the signing of a $1.05-billion contract with Iraq’s Ministry of Electricity for the construction of a combined cycle power station in Anbar.

The deal involves the engineering, procurement, construction and commissioning of a natural gas-powered plant with a capacity of 1,642 megawatts.

It will be built over a  32-month period, after the issue of the letter of credit.

The project will be carried out in collaboration with the SEPCOIII Electric Power Construction Corporation.

(Source: METKA)

2 Responses to METKA Signs $1bn Iraqi Power Deal

  1. Fitzsimons July 4, 2013 at 7:28 pm #

    I find this difficult to absorb where are they going to source the power plant in this time frame and who will handle the distribution, I am not a technical guy, but have a few miles on the clock and too many false dawns courtesy “big ideas and short on reality” particularly when it comes to Iraq.

    Would appreciate your feedback.

    Fitz.

  2. Edward July 4, 2013 at 9:51 pm #

    I wonder who will be issuing the letter of credit to a greek company?