Siemens has signed a Memorandum of Understanding (MoU) with the Federal Government of the Republic of Iraq to help modern the energy and oil & gas sectors.
Under the terms of the deal, Siemens will develop an enhanced energy concept to develop and optimise the country´s power generation and grid infrastructure.
“With this important agreement we intensify the long lasting partnership between Siemens and Iraq,” said Siegfried Russwurm, member of the Managing Board of Siemens. “With our broad portfolio and comprehensive expertise in power generation, transmission as well as in Oil and Gas sector we will assist and support the Iraqi Government to develop a sustainable and modern electricity system to ensure the country’s economic and social development.”
Siemens and Iraq envisage exploring financing solutions for projects to be developed as well as maintenance and rehabilitation of existing power plants/infrastructure in close collaboration with the Federal Government of Germany.
