GE signs $328 mln maintenance agreement with Iraq
General Electric. File photo.
(IraqiNews.com) Baghdad – On Tuesday, Iraqi Ministry of Electricity announced, that General Electric (GE) has agreed on a $328.8 million deal with Iraq in order to increase its electricity production capacity by 1,000 megawatts, while pointed out that the agreement will provide the needed equipment to ten stations in the country.
The ministry’s Spokesman Musab al-Mudaris said in a statement followed by IraqiNews.com, “Today, Ministry of Electricity will sign a maintenance agreement of 328 million dollars with General Electric company,” pointing out that, “General Electric will provide the needed equipment to ten power stations in the country.”
Mudaris added, “Iraq will pay General Electric in installments over three years, beginning in 2017, due the ministry of Electricity budget cut by more than half to 1.185 trillion Iraqi dinars.”