Firms shortlisted for $1bn Iraqi power plant
Two Iraq-based companies have been selected for 1,250MW project
Two private Iraqi companies have been shortlisted for the contract to build the nation’s $1 billion power plant in southern Basra, Dow Jones Newswires has reported.
Mass Global Investment Company and Kar Group have been selected from five submitted offers to build the 1,250 megawatt plant in Shatt-al-Basra. Following evaluation of the commercial offers, the Ministry will name one of the two companies as the winner by the end of April.
The project is being offered by the Ministry on a build-own-operate basis for 20 to 25 years, with the government planning to buy power from the successful bidder, and sell it at subsidised rates to Iraqi consumers.