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Issuing a guarantee to allocate needed funds to purchase electricity
09/01/20140
Ministry of Finance pledged to ensure allocation of necessary funds to purchase productive electricity power, according to investment contracts and their values will be listed in federal budget for favor of Ministry of Electricity. This came in a speech that is directed by Ministry of Finance to Ministry of Electricity, according to Council of Ministers Decision No. (90) for 2014 on granting investment licenses for building power stations, and Council of Ministers Decision No. (329) for 2014, concerning issuing a guarantee to allocate needed funds to purchase productive electricity power, according to investment contracts. The Council had decided at its regular 8th session , held on 25.2.2014 to ratify recommendation of Committee of Energy Affairs on giving investment license to build a gas power station (combined cycle) with (1500 MW) in Basmaya site in Baghdad in the custody of the investor (Mass Holding Group for Power) and another station in same capacity in another location by using heavy fuel in case the gas is unavailable for mentioned group. An another investment license will be given to build gas power plant (combined cycle) with (3000 MW) at site of AL- Rumaila in Basra province in the custody of the investor (Shamara Holding Group), if the gas is available , otherwise they will start seeking other solutions and (company Car) also will be granted license to invest (3000 MegaWatts) but location , details and type of fuel should be determined later by Committee for Energy Affairs and Ministry of Electricity. The council had also decided in its regular 26th session that Ministry of Finance will issue guarantee to allocate necessary funds to purchase productive electric power under investment contracts. The Decision 329 came, according to what was urgently presented by minister of electricity during session of the meeting of Council of Ministers.
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09/01/20140
Ministry of Finance pledged to ensure allocation of necessary funds to purchase productive electricity power, according to investment contracts and their values will be listed in federal budget for favor of Ministry of Electricity. This came in a speech that is directed by Ministry of Finance to Ministry of Electricity, according to Council of Ministers Decision No. (90) for 2014 on granting investment licenses for building power stations, and Council of Ministers Decision No. (329) for 2014, concerning issuing a guarantee to allocate needed funds to purchase productive electricity power, according to investment contracts. The Council had decided at its regular 8th session , held on 25.2.2014 to ratify recommendation of Committee of Energy Affairs on giving investment license to build a gas power station (combined cycle) with (1500 MW) in Basmaya site in Baghdad in the custody of the investor (Mass Holding Group for Power) and another station in same capacity in another location by using heavy fuel in case the gas is unavailable for mentioned group. An another investment license will be given to build gas power plant (combined cycle) with (3000 MW) at site of AL- Rumaila in Basra province in the custody of the investor (Shamara Holding Group), if the gas is available , otherwise they will start seeking other solutions and (company Car) also will be granted license to invest (3000 MegaWatts) but location , details and type of fuel should be determined later by Committee for Energy Affairs and Ministry of Electricity. The council had also decided in its regular 26th session that Ministry of Finance will issue guarantee to allocate necessary funds to purchase productive electric power under investment contracts. The Decision 329 came, according to what was urgently presented by minister of electricity during session of the meeting of Council of Ministers.
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