April 29, 2019 / 5:16 PM / 3 months ago

Iraq will 'cooperate' with Siemens on power grid plan

FILE PHOTO: The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann

BAGHDAD (Reuters) - Iraq’s government said on Monday it would “cooperate” with German engineering group Siemens in a potential deal to develop the country’s power grid, but gave no further details.

Siemens and U.S. rival General Electric have been competing for a possible $15 million (£11 million) deal to develop Iraq’s electricity infrastructure.

“The (Iraqi) cabinet decided to implement a road map for the electricity sector in cooperation with Siemens,” the government said in a statement, without elaborating.

It did not mention GE and did not say whether Siemens would be the only company involved in the power grid development.

Siemens had been favourite to win a contract to supply 11 gigawatts of power-generation equipment in the possible $15 billion deal, though the Financial Times reported in October that the German group may have to share the work with GE after pressure from the U.S. administration.

Reporting by Ahmed Rasheed and John Davison; Editing by Susan Fenton

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