Siemens and Iraq sign landmark energy cooperation agreement
Siemens has signed a Memorandum of Understanding (MoU) with the Federal Government of the Republic of Iraq to strengthen the collaboration with the Ministry of Energy and the Ministry of Oil & Gas for modernizing the energy infrastructure and the oil & gas sector.
Under the terms of the agreement, signed in the presence of the Prime Minister of Iraq, Mr. Haider al Abadi, Siemens will develop an enhanced energy concept to advise the Iraqi Government on the development and optimization of the country’s power generation and power grid infrastructure including power generation mix, the manufacturer said in a statement.
The parties also intend to explore potential scope of further cooperation in the power generation sector.
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.