Wednesday, November 23, 2011
Iraq signs $349 mln power deal with Greece's Metka
Iraq signed a $349 million contract with Greek power plant builder Metka on Wednesday for a gas-fired, 1,250-megawatt power plant in southern Iraq.
The plant, to be built in southern Basra province, includes 10 gas units of 125 megawatts each. The units were purchased from General Electric in a contract signed in 2008.
Deputy Electricity Minister Salam Qazaz said the ministry plans to add 22,000 megawatts of production capacity across Iraq over the next three years.
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"Twenty-two thousand megawatts means to rebuild Iraq. It is three times what exists now," Qazaz said.
Iraq is trying to ramp up power production as it rebuilds after years of war and international sanctions. Intermittent power is a chief complaint of Iraqis and demand far exceeds supply.
Iraq signed contracts worth $396 million with South Korea's Hyundai Engineering to build two power plants on Tuesday.
It finalised a $1.08 billion contract with China's CMEC last week to build a 1,260-megawatt thermal power plant.
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