By John Lee. The Financial Times has reported that the recently-agreed electricity deals with Siemens and General Electric (GE) are not certain to be approved. It quotes Minister for Electricity Luay Al-Khatteeb (pictured) as saying: “I don’t have financial allocations or the processes available at hand, it doesn’t allow me to cherry-pick the right consultancies […]
Tag Archives | GE
$1bn UK Financing for Iraqi Electricity
By Editor on 30th January 2019 in Construction & Engineering In Iraq, Iraq Banking & Finance News, Iraq Industry & Trade News
UK Export Finance (UKEF) has announced it will support UK firms with US $1.02 billion to build two new power stations in Iraq and support the restoration of a number of electricity substations in the country. US $1.02 billion in support for UK firms to build two new power stations Agreement will help build and […]
Tags: Electricity In Iraq, ENKA, Enka Insaat, Export credit, featured, GE, General Electric, Turkey, UK Export Finance (UKEF), United Kingdom, United States
GE Power Substation Inaugurated in Baghdad
Iraqi Ministry of Electricity and GE Power celebrate inauguration of Baghdad West North Substation Underlining their joint commitment to support the development of Iraq’s power infrastructure, the Iraqi Ministry of Electricity (MoE) and GE Power’s Grid Solutions business (NYSE: GE) celebrated the energization of the Baghdad West North substation. Located about 35 kilometers away from […]
“Discussions Ongoing” between Siemens and Iraq
By John Lee. Talks are reported to be continuing between Germany’s Siemens and the Iraqi Ministry of Electricity regarding a major investment in the country’s electricity infrastructure. Lisa Davis (pictured), CEO of the Siemens Gas and Power Operating Company, and member of the corporation’s managing board, told The National last week that “discussions are ongoing”, […]
GE, Standard Chartered, TBI close $600m Financing
By John Lee. General Electric (GE), Standard Chartered Bank and the state-run Trade Bank of Iraq (TBI) are reported to have jointly closed a $600-million financing agreement to fund the ambitious electricity project ‘Power Up Plan’ in Iraq. According to Trade Arabia, the project will be implemented in two phases, providing more than 2 gigawatts […]
Tags: Electricity In Iraq, featured, GE, General Electric, Standard Chartered Bank, TBI, Trade Bank of Iraq
Siemens, GE must share Iraq Electricity Deal
By John Lee. Both Germany’s Siemens and US-based GE have signed deals with the Iraqi government on Sunday to provide major additional power generating capacity to Iraq. Following a hotly-contested competition, the two rivals are to share the work, with GE supplying 14 Gigawatts (GW), and Siemens 11 GW. (Sources: GE, Siemens)
GE Wins 14GW Iraq Power Contract
GE (NYSE: GE) signed Principles of Cooperation (POC) with the Iraqi Ministry of Electricity to develop the country’s power sector. The plan is expected to generate up to 14 gigawatts (GW) of power, create up to 65,000 direct and indirect jobs, support the government to realize savings and recoverable losses of up to $3 billion […]
Siemens may have to share $15bn Power Deal with GE
By John Lee. Germany’s Siemens may have to share a $15-billion contract to supply power-generation equipment to Iraq with US rival General Electric (GE). The Financial Times reports that although it appeared that Siemens would win the deal, the Trump administration successfully intervened on behalf of GE. Last month German business newspaper Handelsblatt reported that […]
Siemens Pushes for Major New Iraq Electricity Deal
By John Lee. German business newspaper Handelsblatt reports that Chancellor Angela Merkel has personally intervened with Prime Minister Haider al-Abadi to persuade the Iraq Government to sign a major contract with Siemens to upgrade the country’s electricity infrastructure. It is understood that the State Secretary for Economic Affairs, Thomas Bareiß, accompanied Siemens Chief Executive Joe […]
Tags: EFG-Hermes, Electricity In Iraq, Export credit, featured, GE, General Electric, germany, Hermes, Siemens
Baker Hughes wins Iraq Flare Gas Contract
Baker Hughes, a GE company has been awarded a contract by the South Gas Company of Iraq (SGC) for fast-track solutions to help the recovery of flare gas for Nassiriya and Al Gharraf [Garraf] oilfields. The importance of the project was highlighted by the attendance of several high-level officials, including HE Jabbar Al-Luaib, the Minister […]
Tags: Baker Hughes, featured, flaring, Garraf, gas capture, GE, General Electric, LNG, Nasiriya, South Gas Company (SGC), United States
UKEF Financed 3 Iraqi Projects last year
By John Lee. UK Export Finance (UKEF) has published its annual report and accounts for 2017 to 2018, in which it lists three export projects supported in Iraq: Enka UK Construction Ltd received letter of credit guarantees and supplier credit totalling £87,910,650 for the construction of a gas-fired power plant for Iraq’s Ministry of Electricity; […]
Tags: DJ, ENKA, Enka Insaat, Export credit, featured, Fortress Diagnostics, GE, General Electric, germany, Turkey, UK Export Finance (UKEF), United Kingdom
GE “Helps Najibiya Power Plant Reduce Downtime”
By Editor on 6th April 2018 in Construction & Engineering In Iraq, Iraq Industry & Trade News, Iraq Oil & Gas News
GE Power has installed its Advanced Gas Path (AGP) gas turbine upgrade solution at the Iraqi Ministry of Electricity’s (MOE’s) Najibiya Power Plant. The solution is expected to enable the MOE to increase the duration between the maintenance inspections of the gas turbines. This will decrease the downtime of the turbines and improve the availability […]