Iraq signs USD 396 million power project contract with Hyundai Eng

Iraq has signed contracts worth USD 396 million with South Korea's Hyundai Engineering to build 2 new power plants.

The plants will have a total capacity of 1,752 MW.

There will be five units of 292 MW each in Rumaila with a total value of USD 308 million and a separate deal worth USD 88.5 million for a single 292 MW gas unit at Taza in Kirkuk province.

Iraq finalized USD 1.08 billion contract with China’s CMEC last week to build 1,260 MW plant in Salahaddin province.