Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Mar 27, 2024 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Iraqi Official Casts Doubt on Deals With GE, Siemens I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Iraqi Official Casts Doubt on Deals With GE, Siemens

Go down

Iraqi Official Casts Doubt on Deals With GE, Siemens Empty Iraqi Official Casts Doubt on Deals With GE, Siemens

Post by GirlBye Mon Feb 11, 2019 10:59 am

Multibillion-dollar energy deals that both Siemens and General Electric (GE) signed with the Iraqi government last year may not come to fruition, according to the country’s electricity minister.


The Financial Times on February 10 reported that Luay Al-Khatteeb, who took his post late last year after the deals were brokered, told the newspaper, “I don’t have financial allocations or the processes available at hand, it doesn’t allow me to cherry-pick the right consultancies to deal with these multibillion-dollar deals. The bureaucracy that I inherited is . . . illogical.”


GE in October 2018 agreed to a $15 billion deal to provide 14 GW of power generation projects to Iraq, including 1.5 GW as early as this summer. The agreement, which was called “principles of co-operation” and is not binding, came after the Trump administration reportedly told Iraqi officials that diplomatic relations with the U.S. would be threatened if Iraq pursued that deal with Munich, Germany-based Siemens, instead of Boston, Massachusetts-based GE.


One day after the GE deal was announced, Siemens agreed to a non-binding plan to supply 11 GW of power generation to Iraq. Siemens CEO Joe Kaeser signed a memorandum of understanding with then-electricity minister Qasim Al-Fahadawi.
Kaeser, in an interview with the Al Arabiya television network at the World Economic Forum in Davos, Switzerland in January of this year, said of competing with GE in Iraq: “Fierce competition is good as long as there’s a level playing field so that the best team can win. That’s what we ought to have. If there are other forces in play it’s always hard to have a level playing field but we are a good company. We have great examples to show. We don’t need to promise a lot of stuff.”


Included in the deals with GE and Siemens were plans for both companies to install liquefied natural gas-fueled mobile units to power operations in some of Iraq’s oil fields.
Officials with both Siemens and GE last year said they hoped the Iraqi government would use these initial projects as a gateway for both to develop more infrastructure in the country.


Al-Khatteeb told the Financial Times that both companies’ development plans remain under review. He said, “certainly it’s going to be quite challenging to blindly accept such proposals.” He said he is using what the newspaper called “volunteer experts” to help “read in between the lines of these sophisticated legal contractual documents.” The electricity minister said he did not want the agreements to become a future burden. “It’s a responsibility. It’s not about ‘let’s sign this deal blindly and move on’,” he told the newspaper.


GE in a statement said it is continuing to develop energy projects in Iraq, noting: “Our presence in Iraq is based on a partnership that spans over 50 years. We continue to partner with the government of Iraq to deliver reliable and efficient energy to the Iraqi people.”
Siemens did not immediately comment on the Financial Times’ report.


A GE spokesperson in a statement at the time of the October 2018 deal said, “GE signed an agreement with the Government of Iraq on a comprehensive action plan that is expected to create up to 65,000 jobs, realize annual savings of up to $3 billion, and provide up to 14 GW of power to the Iraqi people by deploying GE’s proven fast power technologies, establishing new power plants, upgrading existing sites, and developing substations and overhead lines across the country.”


Al-Khatteeb has said his agency wants at least a 15% year-over-year increase this year in power infrastructure, which includes projects to meet a 7% rise in demand for electricity, along with an 8% increase in power generation and upgraded transmission and distribution lines.


https://www.powermag.com/iraqi-official-casts-doubt-on-deals-with-ge-siemens/
GirlBye
GirlBye
VIP NewsHound
VIP NewsHound

Posts : 1484
Join date : 2018-07-09
Location : So Cal

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum