Siemens: to rebuild two power plants in Iraq

(CercleFinance.com) - Siemens said that it has signed an agreement with Iraq to rebuild two power plants in the northern part of the country after they were severely damaged by Islamic State militants.


The German industrial group and Egypt's Orascom will rebuild Baiji 1 and Baiji 2 power plants, which will have a combined generation capacity of 1.6 gigawatts when completed.

Work at Baiji, which is about 250 km north of Baghdad, will begin once the contracts are approved by Iraq's Council of Ministers and a financial agreement is reached with the Ministry of Finance.

The projects are expected to be completed within 28 months after the financial closing.

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