In order to accelerate the rehabilitation process of Al-youssifiyah power station, a delegation from the Iraqi Ministry of Electricity (MoE), led by the Senior Deputy Minster, Mr. Raad Al-Haris, met with TECHNOPROMEXPORT (TPE) in Moscow. TPE’s team was led by Mr. Alexander A. Lukin, the General Director along with a representative from Al-Burhan Group, Mr. Qais Al-Ani.

The parties discussed all aspects of Al-Youssifiyah power project, including the material inspection by TPE at the site warehouse in order to categorise the available equipment at the site; whether there was any damaged or missing equipment, as well as inspecting the civil and mechanical structure at the site. TPE will draft a contract for this project and submit it to MoE which will include an offer for supplying the replacements for the damaged equipment. Also in this regard, MoE requested TPE to reduce its inspection team period at the site to 3 or 6 months and reduce its price accordingly.

In order to carry out this inspection, the parties agreed that TPE will submit the required list of equipment as well as the number of personnel needed within 2 weeks. Furthermore, TPE will provide MoE with a list of secondary buildings at the site with their designs and drawings.

MoE also requested TPE to consider participation in completion of Al-Dibis power station; a formal request in this regard will be submitted to TPE shortly.

The parties also discussed progress on Al-Hartha power station. The total amount of the advance payment has been received by TPE. MoE shall apply to the World Bank for payment of the outstanding amount of and will inform TPE accordingly. The Letter of Credit was also discussed and parties agreed to amend some of its conditions to reflect the contract terms. MoE will instruct the Trade Bank of Iraq to complete the needed amendments and it will also request the World Bank to issue a commitment letter with respect to the amendments. Performance guarantees were issued by UniCredit Bank, Moscow and were handed over to MoE.

Finally, parties agreed to hold a coordination meeting once every 2 months to follow up on the rehabilitation progress of both projects.