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Iraq in $396m power deals with Hyundai

Aseel Kami reports for Reuters:

Iraq has signed contracts worth $396 million with South Korea's Hyundai Engineering to build two power plants as it tries to increase electricity supplies, a senior official said on Tuesday.

The plants will have a total capacity of 1,752 megawatts, Laith al-Mamury, head of investments and contracts at the electricity ministry, said.

"The ministry signed a contract with Hyundai Engineering to build five units, each with a capacity of 292 megawatts (and) with a value of $308 million in Rumaila," Mamury told Reuters.

The second deal, worth $88.5 million is for a plant with one 292 MW gas unit at Taza in Iraq's northern Kirkuk province, Mamury said.

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