Siemens signs landmark energy co-operation deal with Iraq
DUBAI, March 25, 2016
Siemens has signed a deal with Iraq to strengthen the collaboration with the Ministry of Energy and the Ministry of Oil and Gas for modernizing the energy infrastructure and the oil and gas sector.
Under the terms of the memorandum of understanding, the firm will develop an enhanced energy concept to advise the Iraqi government on the development and optimisation of the country's power generation mix and grid infrastructure including power generation mix.
Siegfried Russwurm, member of the managing board, Siemens, said: “With this important agreement we intensify the long lasting partnership between Siemens and Iraq.
“With our broad portfolio and comprehensive expertise in power generation, transmission as well as in Oil and Gas sector we will assist and support the Iraqi Government to develop a sustainable and modern electricity system to ensure the country’s economic and social development.”
The parties also intend to explore potential scope of further, co-operation in the power generation sector as well as in the field of oil and gas.
Siemens and Iraq envisage exploring financing solutions for projects to be developed as well as maintenance and rehabilitation of existing power plants/infrastructure in close collaboration with the Federal Government of Germany.
The deal was signed in the presence of Haider Al Abadi, Prime Minister of Iraq, by Qassim Al-Fahdawi, Minister of Electricity, and Russwurm in Baghdad. - TradeArabia News Service
