KRG Prime Minister Nechirvan Barzani announced a strategic, tripartite energy agreement yesterday between companies from the Czech Republic, Turkey and the Kurdistan Region to build a new power plant.
The agreement brings together the Czech Export Bank, Czech company PSG International, Turkey’s Renaissance Construction and KAR Group, the Kurdistan Region’s largest company, to build and finance the power plant.
Speaking at the signing ceremony, Prime Minister Barzani described the progress that the Kurdistan Regional Government (KRG) had made over the years in meeting the electricity and energy demands of its citizens.
He said, “We are continuing our efforts to achieve more progress; we are taking steps to further modernise the electricity sector, and we will continue these efforts until we can provide all the necessities of our dear citizens in this sector throughout the region.”
The Czech Republic’s Minister of Industry and Trade Martin Kuba, who is leading a large business delegation to Kurdistan, said that he was impressed with the continued economic growth and stressed the importance of strengthening bilateral ties with the KRG.
Minister Kuba said, “Today, we do have a number of Czech companies doing good business in Kurdistan, however, there are many more opportunities for further engagements; we are here to explore those opportunities.” He also commended the KRG’s efforts to empower the private sector, saying the results had produced notable success.