Siemens is to help Iraq modernise its energy infrastructure and the oil and gas sector.
It has signed a Memorandum of Understanding with the Federal Government of the Republic of Iraq to strengthen collaboration with the Ministry of Energy and the Ministry of Oil & Gas.
The technology giant will develop an enhanced energy concept to advise the government on the development and optimisation of the nation’s power generation and grid infrastructure.
They also intend to explore financing solutions for projects to be developed as well as maintenance and rehabilitation of existing power plants and infrastructure “in close collaboration with the Federal Government of Germany”.
Siegfried Russwurm, Member of the Managing Board of Siemens said: “With our broad portfolio and comprehensive expertise in power generation, transmission as well as in Oil and Gas sector we will assist and support the Iraqi Government to develop a sustainable and modern electricity system to ensure the country’s economic and social development.”