Siemens has signed a Memorandum of Understanding (MoU) with the Federal Government of the Republic of Iraq to strengthen the collaboration with the Ministry of Energy as well as Ministry of Oil & Gas for modernizing the energy infrastructure and the Oil & Gas sector. In the presence of the Prime Minister of Iraq, Mr. Haider al Abadi, the Memorandum of Understanding was signed by Qassim al-Fahdawi, Minister of Electricity, and Siegfried Russwurm, Member of the Managing Board of Siemens AG, in Baghdad today.
Under the terms of the agreement, Siemens will develop an enhanced energy concept to advise the Iraqi Government on the development and optimization of the country’s power generation and grid infrastructure including power generation mix.
The parties also intend to explore potential scope of further cooperation in the power generation sector as well as in the field of Oil and Gas. 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.
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