GEC clarifies its business map in Iraq 

Baghdad-INA 

The General Electric Company confirmed that the memorandum of understanding signed with Iraq aims to achieve the vision of the Ministry of Electricity to provide a highly reliable infrastructure for the energy sector and support economic growth, while the company indicated its business map in the country.

The President and CEO of General Electric, Joseph Anis, told the Iraqi News Agency (INA): "The memorandum of understanding signed today is an extension of our continuous cooperation with the Iraqi Ministry of Electricity, and reflects its vision to stimulate positive change by developing a sustainable and highly reliable infrastructure for the energy sector, especially as it strengthens it." Not only does it contribute to meeting the growing energy needs, but it is also a springboard for achieving economic growth.”.

He added, "General Electric has supported the endeavors of the Iraqi people in developing the energy sector for more than 50 years, and we added up to 19 gigawatts of production capacity in the country in just over a decade, and we were among the first companies to rehabilitate power generation stations in the regions." liberated, and we have helped the Iraqi government secure more than $2.4 billion to finance energy projects since 2015, and the new cooperation principles document (the signed memorandum of understanding) confirms our continued commitment to providing effective results that drive progress in various regions of Iraq, and help build its local capabilities.

And he continued, "In 2021, General Electric announced a comprehensive plan for energy transition in Iraq that includes several proposed strategic initiatives to support the transition to the use of cleaner energy sources, and to continue enhancing the capabilities of Iraqi workers in this field. The initiatives include the use of gas associated with oil production in electricity generation." And converting existing power plants that operate in the simple cycle system to the combined cycle, which contributes to enhancing their efficiency and achieving significant fuel savings and reducing emissions, in addition to implementing carbon capture solutions and using hydrogen as fuel for power plants in order to achieve climate neutrality in the long term, and ensures the implementation of these The initiatives provide stable and sustainable energy for more areas, create thousands of jobs for the Iraqi people, and stimulate the growth of the local economy by opening wide opportunities for local companies and suppliers.

He pointed out, "In addition to its efforts to develop the vital national infrastructure, General Electric is constantly focusing on community development projects in Iraq, as the company has cooperated during the last period with the "Capita" institution to support the private sector in supporting up to 50 micro-companies. It is owned by Iraqi citizens by providing grants and training courses on marketing and doing business, and the company provided scholarships to students of the Baghdad College of Business, and the percentage of Iraqi citizens working for the company in Iraq reaches about 95%.

Today, Thursday, the media office of the Prime Minister announced the signing of a memorandum of understanding between the Ministry of Electricity and the American General Electric Company, while Prime Minister Muhammad Shia al-Sudani affirmed the government's seriousness in supporting the energy file.

A statement by the office, received by the Iraqi News Agency (INA), stated, "The Ministry of Electricity signed a memorandum of understanding with the American General Electric / GE company under the auspices of Prime Minister Muhammad Shia'a Al-Sudani," noting, "This came within the framework of the government program that aims to develop the electricity sector." in Iraq".

The statement added, "The memorandum included many basic axes, which will contribute to developing the electrical system in the field of production, increasing its efficiency, transportation, maintenance, staff training, and reducing carbon emissions to support the energy transition in Iraq.".

The Prime Minister stressed "the government's seriousness in supporting the energy file, and providing full support to the Ministry of Electricity in order to raise the level of production and maintenance of stations, in a way that contributes to addressing the problem of electric current and alleviating the suffering of citizens.".

The statement indicated, "In light of the memorandum, long-term maintenance works will be contracted for a period of five years, to sustain the work of the energy production units that have been equipped by the company, in addition to increasing the work efficiency of the energy production units currently operating by modernizing the systems attached to them, and establishing new stations." To produce electric power in stages commensurate with the available fuel and financing.