GE inks power agreements worth over $1.2 billion with Iraq

General Electric Co said it had signed two new agreements valued at over $1.2 billion with the Iraqi Ministry of Electricity, to undertake maintenance programs across key power plants in the country and bolster its transmission network.

The U.S. conglomerate was also working with multiple export credit agencies to facilitate financing of more than $1 billion for the projects, it said in a statement .

Accordingly, GE Gas Power will undertake contracts valued at US$500 million for the upgrade and maintenance of key power plants in the country, which are mission-critical to sustain the power supply of over 6,000 MW and scale up operational efficiency