STX Heavy wins $150m Iraq order
South Korean firm reportedly set to work on 500MW power site
Reports have suggested that South Korea’s STX Heavy Industries has been awarded a new Iraqi power contract – valued at US $150 million – to build and operate a new power plant in Amara, in the south east of the country.
Reuters has reported that the firm will undertake construction of a new facility with four 125 MW gas turbines, with a targeted completion date of June 2014. The firm will then be responsible for operation and maintenance works at the facility for the first year of operation.
STX has considerable experience working in Iraq, with the firm responsible for the 200 MW Missan power plant which was officially launched by Iraq’s Electricity Minister Kareem Aftan Al-Jumaili back in June 2012. The project was aimed at both boosting local power capacity, as well as bolstering employment opportunities within the local province.
Under the Missan contract, the Iraqi government were set to pay STX 50% of the project costs after one year of the facility’s operation, with the remainder paid over the following two year period.