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Author: the future of Iraq
18/7/2011 0:00
Baghdad / Iraq's future,
announced the Iraqi Ministry of Electricity on Sunday for the reluctance of many international companies from the construction of power stations because of the financial guarantees that request them. confirmed that this is paying a lot of these companies to cancel their contracts with the ministry. Said the spokesman of the Ministry of Electricity Musab al-Teacher: The Council of Ministers and MPs have already agreed to allow the ministries of service, including electricity contract on credit with international companies to set up stations, fast construction, in order to raise the power in Iraq in record time, indicating that many of these companies started reluctant to build these plants because of the financial controls and bank guarantees that have been placed on these companies. The Teacher: The financial controls Iraqi imposed on the executing companies that have been contracted on credit guarantees from banks, after three months of the conclusion of the contract of one of Iraqi banks, or international banks with branches in Iraq, indicating that this is paying a lot of these companies to canceled their contracts with the Ministry of Electricity.
and the teacher that a lot of companies executing demanded that the bank guarantee of banks operating in the country while we see some of those companies that most of the Iraqi banks can not cover the amount of bank guarantees to the Ministry of Electricity. The teacher, the Ministry of Electricity is at the present time to discuss with the Council of Ministers to amend paragraph guarantees or to obtain an exception to the companies of the bank guarantees of Iraqi banks and the form which allows it to provide bank guarantees of their countries. and declared the Iraqi cabinet, in the 12 of June, agreed to add 927 million dollars to the supplementary budget of the Ministry of Electricity for the current year, which will be allocated for the implementation of specific projects by the Commission for Energy of the Council of Ministers.
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18/7/2011 0:00
Baghdad / Iraq's future,
announced the Iraqi Ministry of Electricity on Sunday for the reluctance of many international companies from the construction of power stations because of the financial guarantees that request them. confirmed that this is paying a lot of these companies to cancel their contracts with the ministry. Said the spokesman of the Ministry of Electricity Musab al-Teacher: The Council of Ministers and MPs have already agreed to allow the ministries of service, including electricity contract on credit with international companies to set up stations, fast construction, in order to raise the power in Iraq in record time, indicating that many of these companies started reluctant to build these plants because of the financial controls and bank guarantees that have been placed on these companies. The Teacher: The financial controls Iraqi imposed on the executing companies that have been contracted on credit guarantees from banks, after three months of the conclusion of the contract of one of Iraqi banks, or international banks with branches in Iraq, indicating that this is paying a lot of these companies to canceled their contracts with the Ministry of Electricity.
and the teacher that a lot of companies executing demanded that the bank guarantee of banks operating in the country while we see some of those companies that most of the Iraqi banks can not cover the amount of bank guarantees to the Ministry of Electricity. The teacher, the Ministry of Electricity is at the present time to discuss with the Council of Ministers to amend paragraph guarantees or to obtain an exception to the companies of the bank guarantees of Iraqi banks and the form which allows it to provide bank guarantees of their countries. and declared the Iraqi cabinet, in the 12 of June, agreed to add 927 million dollars to the supplementary budget of the Ministry of Electricity for the current year, which will be allocated for the implementation of specific projects by the Commission for Energy of the Council of Ministers.
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