By Nayla Razzouk - May 18, 2011 3:50 PM GMT
STX Heavy Industries Co. signed an agreement today to install 25 power plants to generate a total of 2,500 megawatts in Iraq, Iraqi Electricity Minister Raad Shallal said.
“This is a big event as the company will be establishing 25 plants in a region ranging from the southern city of Basra to the south of Baghdad,” he said in a speech during the signing, aired on the state-sponsored Iraqiya television.
The diesel-fired plants will be built within a total period of 13 months, he said during the ceremony attended by Iraqi Prime Minister Nuri al-Maliki.
The units are half of the 50 new 100-megawatt power plants planned by the Iraqi government at a cost of $6.25 billion. A group of South Korean companies won the contract for the first 25 installations on April 7.
Iraq faces electricity shortages eight years after the U.S.-led invasion that ousted PresidentSaddam Hussein and its generation and distribution network have suffered from decades of conflict, sanctions and sabotage. The country sought bids this year to build more than 60 power plants to add more than 14,000 megawatts to the grid.
Iraq produces 7,000 megawatts and imports 1,000 megawatts while domestic demand totals about 14,000 megawatts, Shallal said last month.
To contact the reporter on this story: Nayla Razzouk in Amman at nrazzouk2@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
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