GE reaches financial close on Iraqi power sector overhaul

GE reaches financial close on Iraqi power sector overhaul

Iraq's ministry of finance, GE and backers including the UAE's Etihad Credit Insurance reached financial close on critical power infrastructure rehabilitation projects on seven plants in the country.

The US multinational will provide capital, spare parts, repairs and services to the Qudus, Khairat, Baghdad South, Hilla, Mussayab, Haidariya and Karbala power plants to help maintain more reliable generation of up to 2.7 gigawatts of electrical power. The power infrastructure will be supported by GE's operations in the UAE.



"Open economies, trade and public private partnerships can play a strong role in supporting countries to develop critical infrastructure," Thani bin Ahmed Al Zeyoudi,