General Electric wins three bln dlr Iraqi power deal

AFP
Dec. 18, 2008

WASHINGTON — US conglomerate General Electric Co. said Tuesday it has been awarded a three billion dollar power generation contract by war-wracked Iraq.

“We are honored that the government of Iraq has chosen GE to support its efforts to expand the country’s energy infrastructure,” said John Krenicki, chief executive of GE Energy, the power generation arm of General Electric.

The Iraqi electricity ministry and GE Energy have signed an agreement for power generation equipment and services valued at nearly three billion dollars to provide electricity to support Iraq’s future economic development, the company said in a statement.

“The announcement is a significant milestone as the country seeks to rapidly develop its energy infrastructure and increase its electricity production,” it said.

Under the agreement, GE Energy will provide multi-fuel gas turbines capable of supplying 7,000 megawatts of electricity.

The Iraqi government plans to install the units at key sites around the country to provide support for the electricity grid, the statement said.

• A d v e r t i s e m e n t

There are 120 GE turbines already installed in Iraq.

Currently, Iraq’s daily power generation output averages less than 6,000 megawatts, while the demand is typically more than 10,000 megawatts, it said.

General Electric has been a major player in Iraq since 2003, when the United States invaded the country to overthrow Saddam Hussein. It has been supporting Iraq infrastructure needs in power generation, oil and gas, water processing, aviation and healthcare.

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