USD 63.8487

0

EUR 70.5975

0

BRENT 65

+0.37

AI-92 42.31

-0.01

AI-95 45.95

-0.04

AI-98 51.59

-0.04

Diesel 45.97

-0.08

75

Siemens strikes $823.8 million deal with Libya to build power plants

Siemens signed contracts worth $823.8 million to build 2 gas-powered electricity stations.

Siemens strikes $823.8 million deal with Libya to build power plants Siemens strikes $823.8 million deal with Libya to build power plants


German Siemens signed on December 11, 2017, contracts worth $823.8 million to build 2 gas-powered electricity stations in Libya.

 

The plants, scheduled to be built in Misurata and Tripoli, will increase Libya’s power generation capabilities by about 1.3 gigawatts.

 

The value of the contracts with the state-owned General Electricity Company of Libya (GECOL) includes long-term service agreements, but it did not indicate when the new plants will start operation.

This marks the German giant’s return to the North African country after the 2011 uprising.

 

Last month, a group of Turkish employees working on a power station in the city of Ubari were evacuated after 4 of their colleagues were kidnapped, delaying work at the station and highlighting real life dangers of working in Libya.

 

While the step would empower Libya’s ailing electric power sector, the contracts come in a high favor for Siemens as it would benefit by the $823.8 million boost to its dwindling business in Europe, knowing that it has been cutting several jobs over lack of business in recent times.

 

Source : Neftegaz.RU