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Iraq Signs $349 Million Power Contract with Greek METKA

Reuters reported that Iraq signed on Wednesday a $349 million contract with Greek leading power plant builder METKA SA for a gas-fired, 1,250-megawatt power plant with General Electric gas turbines technology.

The project is scheduled to be build in the Basra Province in Southern Iraq within the following 24 months from the contract effective date and the opening of a Letter of Credit.

This is the 7th project METKA undertakes outside Greece, increasing the total capacity of international projects to 5,400 MW, strengthening further its international exposure through expansion in markets with booming energy needs and lowering its dependence on the domestic market.

Iraqi authorities have stated that such power projects aim at rebuilding the country.

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