Siemens is well placed to win the bulk of orders flowing from a $14 billion sche...
BERLIN - Siemens is well placed to win the bulk of orders flowing from a $14 billion scheme to rebuild Iraq’s electricity infrastructure following years of war, the country’s Prime Minister Adel Abdul Mahdi said in Berlin on Tuesday.
The U.S. company later said it expected to win other projects in the country and said it was in talks with Baghdad on electricity projects. Siemens said it had already signed three contracts worth a total of $700 million - one to build a 500 MW gas-fired power plant, one to upgrade 40 gas turbines and another to install dozens of substations and transformers across Iraq.
Over the longer term, the roadmap signed between Siemens Chief Executive Joe Kaeser and Electricity Minister Luay al-Khateeb, envisages building new generation capacity, upgrading existing power plants and expanding transmission grids.
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