Alstom inks '$2bn' Iraq power plant MoU

The French ambassador to Iraq has said that French engineering group Alstom has signed an initial agreement with the Iraqi government to build a power plant that could cost up to $2bn in Basra, Reuters has reported. The steam power plant will add 1,200 megawatts of capacity to the country. "This is just the beginning for other power plant projects," Boris Boillon told the news service. "The cost is under negotiation but it is between $1bn and $2bn," he said, adding the project would need two to three years to complete