Turkish group signs energy deal with Iraq

Turkish company Calik Energy signed a deal yesterday with the Iraqi government to build a power plant for $445.5 million. The deal between Calik and the Iraqi Electricity Ministry is for the construction of the 1,250-megawatt al-Hayrat plant in Karbala. Calik Holding CEO Ahmet Calik and Salam Kazzaz, Iraq's deputy electricity minister, signed the agreement in a ceremony in Baghdad with the participation of Iraq's deputy premier for energy, Hussain al-Shahristani, and Turkey's ambassador to Iraq, Murat Ozcelik. Speaking at the ceremony, al-Shahristani said that when it's completed two years from now the al-Hayrat plant will be the biggest in Iraq, and will create 500 jobs. Al-Shahristani said the Iraqi government would hold more tenders for the construction of two power plants in Mosul.