Via Yahoo Finance

BERLIN (Reuters) – German engineering group Siemens on Tuesday signed a roadmap agreement with Iraq’s Minister of Electricity Luay al-Khateeb to upgrade Iraq’s electricity infrastructure.

Iraq’s government had said on Monday it would “cooperate” with Siemens in a potential deal to develop the country’s power grid, but gave no further details.

Siemens and U.S. rival General Electric have been competing for a possible $15 million deal to develop Iraq’s electricity infrastructure.

(Reporting by Andreas Rinke; Writing by Thomas Escritt; Editing by Michelle Martin)

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