December 24, 2008
Iraqi Government have agreed to compensate a Russian Company "Technopromexport" one of the leading companies in the field of construction of power projects and export of electricity, to continue their previous work to construct Al-Youssifiya Power Station which consist of 3 units with capacity of 210 MW each. (Total 630 MW).
The approval have been made after a number of meetings between delegations from Iraqi Ministry of Electricity and Technopromexport in Amman / Jordan, Moscow / Russia meetings with TPE / ABG in London / UK and ABG / MoE in Baghdad / Iraq between the period 2006 till 2008 with assistance of Al-Burhan Group office in Amman and in Baghdad, which resulted to get this compensation approval on 20 May 2008.
The amount have been divided to cover the compensation for the old orders as well the unapproved orders.
The Russian company have deputed their experts /specialists engineers and technicians for evaluation and survey of the sight.
According to the preliminary schedule which has been agreed in August 2006 that Technopromexport commission the first unit after 12 months from the date of signing the contract , the second after 6 months and the third 6 months there after.
However, this depend on the evaluation of the damages which happened during the violence action which Iraq face between 2004 till 2008.
Al-Burhan Group are cooperating with Technopromexport regarding other projects in Iraq such as Al-Hartha Power Station (2 x 200MW) with assistance of the world bank.