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General Electric Could Beat Siemens To Iraq Power Generation Project

News follows the backing from the US government for GE's bid in competition with Siemens

According to reports in the Financial Times, Siemens hopes of securing a multi billion power generation contract in Iraq may have been jeopardised following intervention from the US government.

Following a visit to Iraq last month and input from German chancellor Merkel, Siemens appeared to be in pole position to secure the contract to build new power plants and provide an additional output of 11 gigawatts to the Iraqi electricity grid.

However, since then the Trump administration has stepped in to provide backing for GE's bid, which is now expected to secure a substantial part of the sale. 

With no official announcement made yet, Iraq's decision on the contract comes as its government is seeking support from the Trump administration with respect to their gas imports from Iran. With approximately 35% of Iraq;s electricity generated from Iranian gas it is seeking a workaround on US sanctions on Iran which come into place on November 5th.

Source: Financial Times


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