Double plant deal for Iraq
Greek and South Korean firms sign deals with Iraqi cabinet
Deals worth $656.9m have been signed between Iraq and two firms from South Korea and Greece, for two gas-fired power stations in the country.
South Korea’s Hyundai Engineering Co signed a deal with the Iraqi Cabinet for $308m for the construction of a 1,500 megawatt power plant at Rumaila, and Greece’s Metka will build a 1,250 megawatt plant in Shatt-al-Basra for $348.8m.
The two plants are due to be completed within the next two years, and will be funded by the Japanese International Cooperation Authority as part of a $5bn aid package pledges to Iraq.