FILE PHOTO: The General Electric Co. logo is displayed in the company’s headquarters building in Boston, Massachusetts, US July 23, 2019. Image taken July 23, 2019. REUTERS / Alwyn Scott
(Reuters) – General Electric Co (GE.N) said it had valued two new agreements worth more than $ 1.2 billion with the Iraqi Ministry of Electricity, to undertake maintenance programs on key energy plants in the country and to strengthen the overhaul network.
The U.S. conglomerate has also worked with multiple export credit bureaus to facilitate more than $ 1 billion in funding for the projects, it said in a statement here on Wednesday.
The deals come as U.S. companies plan to explore investments and agreements with the Iraqi government during Iraqi Prime Minister Mustafa al-Kadhimi’s first visit to the White House on Thursday.
Oil Company Chevron Corp (CVX.N) is expected to sign an agreement with Iraq on Wednesday to develop one of the country’s major oil fields.
According to a report by the Wall Street Journal on Monday, U.S. and Iraqi officials are also aiming to discover progress toward finalizing deals with natural gas and power technology with Honeywell International Inc. (HON.N) and Stellar Energy.
Report of Ashwini Raj in Bengaluru; Edited by Devika Syamnath
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