Siemens nears multibillion euro Iraq deal

German engineering group Siemens is working on a deal worth up to €9 billion to supply energy generation technology to Iraq, Handelsblatt reported.

Siemens Chief Executive Joe Kaeser has travelled to Iraq to secure a memorandum of understanding with the country yesterday, the paper said, adding the deal also involved power transmission technology.

The Iraqi government has not made a decision on Siemens’ offer, which has also been supported by German Chancellor Angela Merkel last week. (Reuters)