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Lanco Infratech wins Rs365 cr power project in Iraq

Lanco Infratech wins Rs365 cr power project in Iraq
AFP
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First Published: Tue, Jun 21 2011. 03 37 PM IST
Updated: Tue, Jun 21 2011. 03 37 PM IST
Mumbai: Infrastructure firm Lanco Infratech Limited on Tuesday said it has signed a multi-million-dollar deal to build a power plant in Iraq as part of the war-torn country’s plans to cut its energy deficit.
The company said the Rs365 crore ($81.3-million) deal would see the construction of a 250-megawatt, gas-fired facility in the western province of Al-Anbar.
Earlier this month, Iraq signed deals with Turkish, Kuwaiti and South Korean energy firms to develop two gas fields in Diyala province, northeast of Baghdad, and in the southern province of Basra.
A preliminary accord has also been signed with Seoul’s Korea Gas Corporation to exploit the Akkaz field in Al-Anbar.
Lanco, a Hyderabad-based company, said in an emailed statement that the contract was signed in Baghdad with representatives of the country’s electricity ministry.
The company will work on engineering, procurement and construction of the open-cycle gas-based thermal power plant.
General Electric International Inc. will supply two gas turbine generators capable of producing 125 megawatts of electricity each, the statement said, adding that the project is scheduled for completion in 16 months’ time.
Lanco has interests in the power, construction and property sectors and is active in developing Indian infrastructure projects, including roads and power schemes.
Eight years on from the US-led invasion to oust former president Saddam Hussein, Iraq still suffers from chronic electricity shortfalls.
The electricity ministry said in February this year that they would need $3.85 billion a year for the next two decades to rebuild the sector and keep up with growing demand, which is growing at about 10%.
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First Published: Tue, Jun 21 2011. 03 37 PM IST