Turkey’s Tekfen Insaat, a construction company active in 12 countries, aims to build a power plant in Iraq together with a French company as Iraq’s risk profile improves, chief executive Umit Ozdemir said, according to the Kipp Report.
The company is looking into projects in the southern part of Iraq, ha told a conference in Istanbul.
Eight years after the U.S.-led invasion that ousted Saddam Hussein, the national grid supplies only a few hours of power per day, driving up costs for businesses and compounding summer heat, when temperatures reach above 50 degrees Celsius.
Iraq has big plans to install turbines and capture gas at oilfields to ramp up electricity production, and needs to spend $77 billion to improve the power sector by 2030, according to a government master plan.
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