$900m Power Plant Contracts Awarded

Iraq is to get new power plants in order to boost its energy capacity by 2,500 megawatts, reports Reuters. This will significantly add to its meagre total current production, which is around 5,500 megwatts.

All the contracts for the 20 gas turbines, which were bought from General Electric, have been awarded to three Turkish companies. The contracts are due to be signed this week.

Iraq's Electricity Ministry said on Sunday it has awarded more than $900 million in contracts to three Turkish companies to install 20 gas turbines that will boost Iraq's power generating capacity by 2,500 megawatts.

Calik Enerji has the biggest contract for $446m and will build 10 turbines in Karbala. Insaat will build six in Nineveh in a deal worth €268m dollars, and Eastern Lights will build four more turbines in an existing plant in Baghdad for €205m.

An official told Reuters the turbines should be installed inside 24 months.

(Source: Reuters)

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