General Electric and Siemens confirm going for a mega-contract in Iraq

/ Financial News / Wednesday, 26 September 2018 10:27

US group General Electric and German Siemens have confirmed going for a multi-billion-dollar deal to rebuild the power grid in Iraq.

“GE has submitted a proposal and is in discussion with the Iraqi government on how to strengthen the country's energy infrastructure”, said a spokesman for the US company.

“The project covers the maintenance and improvement of existing power plants, the addition of new energy capacities and the strengthening of transmission and distribution networks to meet the growing energy needs in Iraq,” he said, pointing out that the group already employed about 300 people in the country.

Siemens, for its part, presented a “global offer” and is now waiting for a response, according to the company's CEO in the Middle East, Dietmar Siersdorfer.

The CEO did not want to specify the financial amounts mentioned because the offer “includes significant social contributions to advance the Iraqi society.”

According to sources, the contract could go up to 15 billion dollars.

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