Cabinet agrees to add $ 927 million supplementary budget for the Ministry of Electricity

[zaborniake]

Iraqi cabinet announced on Sunday, agreed to add $ 927 million to the supplementary budget for the Ministry of Electricity for the current year, emphasizing that those funds will be allocated for the implementation of specific projects by the Committee on Energy.

The Minister of State, Iraqi government spokesman Ali al-Dabbagh said in a statement issued by his office today, and received “Alsumaria News”, a copy of it, “The Council of Ministers approved in its 30-regular on the recommendation of the Committee on Energy added $ 927 million to the supplementary budget for the Ministry of Electricity for the current year 2011. “

Dabbagh said that “these amounts will be allocated for the implementation of projects identified by the committee on energy affairs in the Presidency of the Council of Ministers”.

And the Ministry of Electricity signed in January of this year 2011, a contract with Turkish company Galak, to build a good things, with a capacity of 1250 MW.

The Deputy Prime Minister for energy affairs, Hussein Shahristani, said in an interview earlier “Alsumaria News”, Iraq’s production of electricity currently, arrived to seven thousand megawatts, while the need for Iraq, including up to 12 thousand MW.

And offered the Ministry of Electricity, in the month of December last, the construction of four power stations, gas investment within the first licensing round to double their production during the next few years, including a power station on the Shatt al-Arab in Basra, with a capacity of 1250 MW power station Samawah a total capacity of 500 megawatts, and the station Electricity Diwaniyah by a total capacity of 500 megawatts, and power plant architecture with a total capacity of 500 MW, to reach the total capacity of these units to 2750 MW.

It is noteworthy that Iraq is suffering a severe shortage of electric power since the beginning of 1990, and increased power rationing hours after the year 2003 in Baghdad and the provinces, because made a lot of stations, as well as sabotage attacks on vital installations during the past years.

http://wp.me/pZC7o-8Aw

[Shelley]

Hey Z , I don't how to read this one... is this a deal above and beyond they have made with Korea ??? and yes how deep are those pockets ???

[zaborniake]

Hey Z , I don't how to read this one... is this a deal above and beyond they have made with Korea ??? and yes how deep are those pockets ???

The cabinet approved to allocate almost $1B to the Ministry of Electricity's budget for 2011. The Korea deal was for over $7B, but there was no mention about when the payments would be accounted for budget-wise.

The fact of the matter is, they have yet to reveal the second half of the 2011 budget, but continue to spend like they have a currency that's worth something.

[Shelley]

Thanks Zaborniake,,,, Sometimes I read and read all that is posted and come out feeling deaf,dumb and blind !!!! it can be so frustrating !!!! Thanks for all your help

[zaborniake]

No problem. Follow the money not the BS rhetoric these guys spew everyday.

[aaanth]

they can't wait to much longer. it's just the beginning of summer there and i'm told it already hits 135 degrees by noon in some areas. 135! they need AC! but i agree, when they open the budget we have our rate and this is a done deal. it's got to be real close now.

Edited June 12, 2011 by aaanth

[Gibbs427]

The cabinet approved to allocate almost $1B to the Ministry of Electricity's budget for 2011. The Korea deal was for over $7B, but there was no mention about when the payments would be accounted for budget-wise.

The fact of the matter is, they have yet to reveal the second half of the 2011 budget, but continue to spend like they have a currency that's worth something.

That's what puzzles me, HOW do they just keep spending for SO many projects, money they don't have???

[zaborniake]

That's what puzzles me, HOW do they just keep spending for SO many projects, money they don't have???

Exactly.

[Dinar_o'saurs]

That's what puzzles me, HOW do they just keep spending for SO many projects, money they don't have???

Credit cards?!?