Iraq agrees $328m GE Electricity Deal

By John Lee.

Iraq has reportedly agreed a $328.8 million deal with General Electric.

Electricity Ministry spokesman Musab al-Mudaris told Reuters that GE will provide equipment and maintenance for 10 power plants across the country, boosting capacity by 1,000 megawatts (MW).

He added that Baghdad will pay GE in instalments over three years, starting in 2017, because the Ministry’s 2016 budget was cut by more than half to 1.185 trillion Iraqi dinars ($1 billion).

GE must finish procurement and servicing for the power plants by the beginning of July; peak electricity demand during the summer is about 21,000 MW, far exceeding the 13,000 MW that the grid is currently providing.

(Source: Reuters)

(Picture: GE 9E gas turbine)

One Response to Iraq agrees $328m GE Electricity Deal

  1. liam January 28, 2016 at 5:05 pm #

    Will the dinar go up in value?