Hyundai and Metka win Iraq power plant deals

• 12 years ago (2011-09-30)
• David Flin

Asia 850 Middle East 312

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Iraq’s cabinet has approved deals with South Korea’s Hyundai Engineering Company and Greece’s Metka to build power plants in the southern oil hub of Basra. The plants are designed to help tackle the acute power shortage in the oil rich country.

Ali Al Dabbagh, a spokesman for the Iraq government, said that Hyudai will build the 1500 MW Rumaila power plant for $310 million, while Metka will construct a 1250 MW power station in Shatt al Basra for $350 million. Dabbagh said that the two companies are required to complete work on the two gas-fired power plants within two years.

The two power plants will be funded by the Japanese International Cooperation Authority, as part of the $5 billion aid package that Japan pledged to Iraq in 2003.