Siemens is approaching a multibillion-dollar deal in Iraq

Siemens is approaching a multibillion-dollar deal in Iraq

2018/9/23 18:15

Siemens is approaching a multibillion-dollar deal in Iraq(Reuters) – German engineering group Siemens is working on a deal worth up to 9 billion euros ($ 10.6 billion) to supply electricity generation technology to Iraq, the daily Handelsblatt daily quoted government and electricity sources as saying.
The newspaper reported that Joe Caesar, CEO of Siemens traveled to Iraq to conclude a memorandum of understanding with Baghdad on Sunday, adding that the deal also includes technology transfer of electricity.
The newspaper said the Iraqi government had not taken a decision to accept the offer Siemens, which was supported by German Chancellor Angela Merkel in recent days.
“We presented our document on Iraq’s electricity production route to Prime Minister Haidar Jawad al-Abbadi in February,” a Siemens spokesman said in an e-mail message, adding that the group had since held a series of meetings and received a positive response from the government.
“Through our proposal, we aim to add 11 gigawatts of power generation in four years, provide thousands of jobs in the country, support anti-corruption, and develop skills and education among Iraqis.”
He gave no details on the size of the potential contract.
In 2015, Siemens signed a contract worth eight billion euros ($ 9.4 billion) with Egypt to supply gas and wind power plants to add 16.4 gigawatts to the country’s electricity grid, the largest order received by the group.

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