Siemens looking to re-power Iraq through one of the biggest contracts in its history

Siemens President and CEO Joe Kaeser has met with Iraqi Prime Minister Haider al-Abadi in Baghdad to discuss a proposal to rebuild Iraq’s energy infrastructure and support its economic development.

Joe Kaeser told CNBC Siemens is looking to build infrastructure in three months that could generate enough electricity for 300,000 people in Iraq, as part of a larger proposal to improve Iraq’s power production by adding 11 GW of power generation capacity over four years. This could provide about 23 million people around the country with constant electricity, reports CNBS.

According to the German business newspaper Handelsblatt, some industry sources say this large deal, which would also include power transmission technology, might be worth up to €13 billion ($15.3 billion).

Siemens CEO commented on the company’s commitment to re-power Iraq on Twitter.

Source: CNBC, Handelsblatt