General Electric clarifies its business map in Iraq and the most important objectives of the signed

Today, Thursday, General Electric confirmed that the memorandum of understanding signed with Iraq aims to achieve the vision of the Ministry of Electricity to provide a highly reliable infrastructure for the energy sector and support economic growth, while the company showed its business map in the country.

The President and CEO of General Electric, Joseph Anis, told the Iraqi News Agency (INA): "The memorandum of understanding signed today is an extension of our continuous cooperation with the Iraqi Ministry of Electricity, and reflects its vision to stimulate positive change by developing a sustainable and highly reliable infrastructure for the energy sector, especially as it strengthens it." It not only contributes to meeting the growing energy needs, but also constitutes a springboard for achieving economic growth.”
He added, "General Electric has supported the endeavors of the Iraqi people in developing the energy sector for more than 50 years, and we added up to 19 gigawatts of production capacity in the country in just over a decade, and we were among the first companies to rehabilitate power generation stations in the regions." liberated, and we have helped the Iraqi government secure more than $2.4 billion to finance energy projects since 2015, and the new document of principles of cooperation (the signed memorandum of understanding) confirms our continued commitment to providing effective results that drive progress in various regions of Iraq, and help build its local capabilities.
And he continued, "In 2021, General Electric announced a comprehensive plan for energy transition in Iraq that includes several proposed strategic initiatives to support the transition to the use of cleaner energy sources, and to continue enhancing the capabilities of Iraqi workers in this field. The initiatives include the use of gas associated with oil production in electricity generation." Converting existing power plants that operate in the simple cycle system to the combined cycle, which contributes to enhancing their efficiency, achieving significant fuel savings, and reducing emissions, in addition to implementing carbon capture solutions and using hydrogen as fuel for power plants in order to achieve climate neutrality in the long term. The initiatives provide stable and sustainable energy for more areas, create thousands of jobs for the Iraqi people, and stimulate the growth of the local economy by opening wide opportunities for local companies and suppliers.
He pointed out, "In addition to its efforts to develop the vital national infrastructure, General Electric is constantly focusing on community development projects in Iraq, as the company has cooperated during the last period with the "Capita" institution to support the private sector in supporting up to 50 micro-companies. It is owned by Iraqi citizens by providing grants and training courses on marketing and doing business, and the company provided scholarships to students of the Baghdad College of Business, and the percentage of Iraqi citizens working for the company in Iraq reaches about 95%.
Today, Thursday, the media office of the Prime Minister announced the signing of a memorandum of understanding between the Ministry of Electricity and the American General Electric Company, while Prime Minister Muhammad Shia al-Sudani affirmed the government's seriousness in supporting the energy file.