Iraq Signs $8 Billion Deals With Siemens and GE for 10,000 Megawatts of Power Generation Capacity, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Iraq recently entered into several preliminary agreements worth $7 billion to $8 billion with General Electric Company (NYSE:GE) (GE) (Fairfield, Connecticut), Siemens AG (Munich, Germany), and an undisclosed third company to procure equipment to double its power generation. The three agreements will enable war-torn Iraq to upgrade its power grid and add about 10,000 megawatts of power generation capacity by 2012. The country was also in talks with Hyundai Heavy Industries Company Limited (SEO:009540) (Ulsan, South Korea) for the supply of diesel generators.
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SOURCE: Industrial Info Resources