General Electric (NYSE:GE) says it signed new agreements valued at more than $1.2B with Iraq's government to undertake maintenance programs across key power plants in the country and bolster its transmission network.
GE says the Besmaya power plant near Baghdad, already Iraq's largest power station, will receive four 9F gas turbines from GE Power to bring its capacity to 4.5 GW, enough electricity to supply up to 4.5M Iraqi households.
Mass Energy Group Holding will supply electricity from the new extension of the plant to the Iraqi Ministry of Electricity under a 20-year power purchase agreement.
Chevron (NYSE:CVX) is expected to sign an agreement with Iraq to develop the country's Nassiriya oil field, and Honeywell (NYSE:HON) reportedly has agreed to help advance development of Iraq's Ar Ratawi gas project.
