Tag Archives | Capgent

Iraq's 'Phantom' Electricity Deal Not So Ghostly?

The latest scandal at Iraq’s ministry of electricity involves multi-billion dollar “phantom deals” with a German and Canadian company. The minister of energy has been asked to resign. But according to a report from NIQASH, the real story is not as simple as it first appears. As a long, hot summer continues to overheat the […]

Iraq's 'Dodgy' Power Generation Deals

Reuters reports that Iraq’s government has admitted to being duped when it signed multi-billion dollar power plant contracts with foreign companies that it later discovered were either bogus or had lied about their financial status. The announcement is embarrassing for Nouri al-Maliki’s government as it tries to lure foreign investors into Iraq. “These contracts damaged […]

Iraqi Electricity Minister Sacked for Deals

Iraq's prime minister has fired his electricity minister, who is under investigation following allegations that he failed to follow government guidelines in the signing of $1.7 billion in power generation deals with two foreign companies. The minister Raad Shalal signed the deals in question with the Canadian Alliance for Power Generation Equipment (Capgent) and the […]