Orascom Construction Egypt will partner up with German industrial conglomerate Siemens to rebuild Baiji power plant in Iraq after it was destroyed by ISIS, Iraq's commercial attaché to Cairo Haidar Nouri Al-Jabr said.
He added that both firms will work on boosting the production capacity of the power plant to 1,500 megawatts, according to Almal News.
In April 2012, the Iraqi electricity ministry had signed a deal with Orascom to set up a 960-megawatt power plant at a total cost of $363 million.
Orascom Construction last posted it turned to losses in the first five months of 2018, recording a standalone loss of $537,600, versus a net profit of $6.48 million in the same period a year earlier.
Zawya
08/07/2018
