General Electric Co potentially stands to win a large share of multibillion-doll...
NEW YORK/BAGHDAD/WASHINGTON - General Electric Co potentially stands to win a large share of multibillion-dollar contracts to rebuild Iraq’s electricity system, reflecting a change in how Iraq intends to award the work after the United States lobbied for GE, according to sources familiar with the matter.
In awarding projects to Siemens in April, however, Iraq’s prime minister said the German company was well-placed to win the bulk of future deals. “It was obvious for us the U.S. government was not happy with Siemens taking over the megadeal alone without any chance for GE,” the official said. “Talks are underway to decide about mid- and long-term contracts, which we expect to be divided between them.”A U.S. State Department official confirmed that the U.S. pressed Iraq in GE’s behalf. “Harnessing the innovative capabilities of U.S.
Siemens and GE have supplied generation plants and other electrical equipment to Iraq for decades. Many of these assets need to be refurbished and upgraded after years of war, creating substantial scope for work by both companies. Siemens said it took “one first major step toward the actual implementation of the roadmap” when it signed an agreement with Iraq on April 30 that lays out projects, budgets and timelines. The April agreement includes three contracts worth about 700 million euros for a new 500-megawatt power plant, upgrades to 40 gas turbines and new substations.
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