A German company gives the government a “road map” to invest in Iraq

The head of the company and its executive director Joy Keizer, Prime Minister Haider al-Abbadi handed over a road map in which he outlined the investments and development projects that the company will implement in the country in the short, medium and long term.

“We are honored to be a close partner of Iraq and will work in coordination with the Federal Ministry of Development and Economic Cooperation of Germany to support Iraq’s reconstruction and development efforts in areas such as education, training and combating corruption,” Kaiser said.

The company’s plan also aims to ensure uninterruptible power supplies up to 16 gigawatts by 2025 to feed all and around Iraqi cities and will be implemented in short and long-term phases.

Siemens is also seeking better use of natural resources in Iraq, such as oil and gas, by adapting its own technology to divert the lost gas associated with oil to a valuable product that feeds national power plants and provides financial returns to the state treasury.

The company expects to provide about $ 5.2 billion in gas use to meet domestic demand over the next four years, with the cessation of incineration of associated gas by 2021.

Article Credit: en.economiciraq.com (Special Thank to Faron Davis)