German turbine maker Siemens said it had won a major order from Iraq for 16 high-efficiency gas turbines costing 1.5 billion euros (2.1 billion dollars). Iraq's ministry of electricity is struggling to end constant power outages and restore damaged oil and gas-fired power stations.
Siemens, the Munich-based conglomerate which agreed last week to pay 1.4 billion dollars in fines in Germany and the United States to settle corruption charges, has vowed to do all future business without bribes.
In a news release Monday in Munich, Siemens quoted its top turbines executive, Wolfgang Dehen, saying at a Baghdad signing ceremony: "This is one of the biggest orders Siemens has ever booked in the Middle East." The new power plants with a total capacity of 3,150 megawatts are set to go on line in 2010 and 2011. Siemens is also to supply high-voltage switchgear, transformers instrumentation and control systems for the power plants as part of the package The plants are to be erected by the ministry or by general contractors.
Comments
Comments are closed.