Nuri al-Maliki stated that the Iraq government would not be able to to pay GE for its services and rebuked parliament for failing to allow $3bn bond sale.
Maliki, said: “The electricity ministry cannot manage $2.4bn to pay GE and we cannot force parliament to approve our project. As a consequence this process (electricity production) will stop.”
Steve Bolze, president of water and power for GE Energy informed that the equipment would be supplied within the next two years. GE manufactures its gas turbines in South Carolina and France. GE Energy stated that it has bagged a major deal of the contract with Iraq, back in December 2008.
The Iraqi parliament could not accept to issue bonds in order to raise money for the project, reported Power Engineering International quoting Reuters as its source.
