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Samsung, Hyundai awarded $1.7bn in deals to boost Iraq’s power output

: Sunday, March 02 - 2014 @ 00:50

The Iraqi electricity ministry has awarded Samsung Engineering and Hyundai Heavy Industries $1.7bn in contracts to build a power plant in the insurgent-plagued city of Mosul and another just south of Baghdad, Reuters has reported. Samsung Engineering won a 30-month, $894.5m contract to build a 330-megawatt power plant in northern city of Mosul, said ministry spokesman, Musab al-Mudarres. Hyundai’s $818m deal will see the South Korean firm build a 230-megawatt power plant in the town of Yousifiya, south of Baghdad, the spokesman said. The deals are part of efforts by the government to ramp up power production as it rebuilds after years of war and international sanctions.

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Sunday, March 2- 2014 @ 0:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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