Iraq Inks Siemens Deal To Overhaul Electricity Sector

3 May 2019 Issue: 62 / 18 By: Waylon Fairbanks

Siemens and Baghdad have finally signed an ‘implementation agreement’ for the German power giant to modernize Iraq’s powergen infrastructure. And whilst significant improvements may be years out, it’s still better late than never for Baghdad.

After months of negotiations, Iraq’s Electricity Minister Luay al-Khatteeb and Siemens CEO Joe Kaeser this week signed an agreement to commence work on the high-profile ‘roadmap’ to rehabilitate Iraq’s electricity sector. Iraqi and German prime ministers Adil Abd Al-Mahdi and Angela Merkel presided over the ceremony in Berlin.

According to the press release, the agreement “builds on the exclusive MoU signed in October last year, and outlines the specific projects, associated budgets and timelines for the execution phase, covering all the essential elements of the electrification of Iraq.” The agreement consists of a ‘three-cycle’ implementation plan, with phase-1 lasting three years, phase-2 lasting an additional two, and the final phase four years, wrapping up around 2028. (CONTINUED - 993 WORDS)