Iraq entices investors to bid for power profits

BAGHDAD (AP) — Iraq is asking local and international investors to compete to build and own four power plants to meet the nation’s growing electricity demands.

Acting Electricity Minister Hussain al-Shahristani promised Saturday to help the winner make a profit from the deal by removing potential governmental or legal obstacles.

At issue are plans for Iraq to give investors 22 gas fired turbines in exchange for building, maintaining and operating power plants. The electricity would then be sold to the Iraqi government to distribute across the country.

Al-Shahristani made his appeal to 30 local and foreign investment companies who gathered in Baghdad.

Electricity shortages across Iraq spurred deadly riots last summer.

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From: http://us.rd.yahoo.com/finance/news/rss/story/*http://us.rd.yahoo.com/finance/news/topnews/*http://biz.yahoo.com/ap/101218/ml_iraq_electricity.html

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