By John Lee.
Greek construction company METKA, a subsidiary of the Mytilineos Group, has announced the signing of a $1.05-billion contract with Iraq's Ministry of Electricity for the construction of a combined cycle power station in Anbar.
The deal involves the engineering, procurement, construction and commissioning of a natural gas-powered plant with a capacity of 1,642 megawatts.
It will be built over a 32-month period, after the issue of the letter of credit.
The project will be carried out in collaboration with the SEPCOIII Electric Power Construction Corporation.
(Source: METKA)
I find this difficult to absorb where are they going to source the power plant in this time frame and who will handle the distribution, I am not a technical guy, but have a few miles on the clock and too many false dawns courtesy "big ideas and short on reality" particularly when it comes to Iraq.
Would appreciate your feedback.
Fitz.
I wonder who will be issuing the letter of credit to a greek company?