US Firms Announce Power Agreements Worth Billions With Iraq

(New York Times/Reuters, New York, 19 August 2020) General Electric Co said it had signed two new agreements valued at over $1.2 billion with the Iraqi Ministry of Electricity, to undertake maintenance programs across key power plants in the country and bolster its transmission network. The U.S. conglomerate was also working with multiple export credit agencies to facilitate financing of more than $1 billion for the projects, it said in a statement on Wednesday.  Oil company Chevron Corp, Honeywell International Inc and Stellar Energy are also expected to unveil progress shortly on agreements with Iraq to develop one of the country's large oil fields.