El Sewedy Electric (SWDY.CA), the leading Wire & Cable and Integrated Energy Solution Provider in the Middle East and Africa, through one of its subsidiaries, announces the signing of a US$ 169 Million contract in Iraq with the Iraqi Ministry of Electricity to build and operate a new power plant in Aldiwanya, with four 125 MW General Electric gas turbines. The gas-fired 500 megawatt power projects is located 23 km west of Aldiwanya city and shall be completed within 18-months on an EPC (Engineering, Procurement and Construction) basis. The contract does not include the supply of the four GE gas turbines that have already been purchased by the Government of Iraq from General Electric in a mega deal that consisted of 56 gas turbines in 2008. El Sewedy Electric's scope of work includes design, procurement and installation of all balance of plant in addition to the erection and testing of the GE gas turbines. In addition, El Sewedy Electric will be responsible for the spare parts and six months of operation and maintenance after the completion of the project. The Arab Contractors will be responsible for all the civil, construction and site utilities for the project. Iraq, holder of the world's fifth-largest oil reserves, is struggling to raise power supplies, which are currently at about 7,500 megawatts, or half of its domestic demand of about 15,000 megawatts. This project is a further testament to El Sewedy Electric's commitment to meeting the needs of the Iraqi power sector, which is in need of substantial investment in power generation, transmission and distribution. El Sewedy Electric's first office in Iraq was opened in 2006 in Erbil.
