Russian-Swiss joint venture Wintercroft Capital has signed a contract with the authorities of the Maysan province in southeast Iraq on building two thermal power plants with total capacity of 1,150 MW, Aswat al-Iraq news agency reported on Sunday.
"The administration of the Maysan province signed on Saturday an agreement with Wintercroft Capital on building two thermal power plants with a capacity of 650 MW and 500 MW," Amer Nasrallah, head of the provincial administration's energy committee told the paper.
The sum of the deal has not been disclosed.
The provincial authorities will pay for the two electric power plants by installments during eight to ten years. The power plants will help resolve many problems related to the shortage of electricity in the province, Nasrallah said.
DUBAI, September 26 (RIA Novosti)