Siemens Signs Iraq Power Plant Contracts

By Nathan Allen Features Dow Jones Newswires

Germany's Siemens AG (SIE.XE) said on Thursday that it signed several multi-million-euro service contracts with Iraq's Ministry of Electricity to maintain and upgrade four power plants.

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The company didn't specify an exact financial value of the contracts.

The upgrade will increase reliability and efficiency of the four plants, boosting capacity by around 400 megawatts to more than 1,000 megawatts, while decreasing fuel consumption by 10%, Siemens said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 30, 2017 11:51 ET (16:51 GMT)