A Reuters exclusive November 12:
- Syria seeking to rebuild war-battered power sector
- Qatar's PIH to build gas-fired power plants
- GE Vernova, Siemens Energy in talks over turbine contracts
U.S. firm GE Vernova (GEV.N), and Germany's Siemens Energy (ENR1n.DE), are in talks to supply gas turbines to a $7 billion project aiming to rebuild Syria's war-damaged power sector, three people familiar with the matter told Reuters.
Syria signed a deal with a subsidiary of Qatar's Power International Holding in May to build four combined-cycle gas turbine power plants with a total capacity of 4,000 megawatts. The agreement also includes a 1,000-MW solar component.
Siemens Energy and GE Vernova could both be awarded contracts for the project, one of the people said, adding, however, that it was too early to say when agreements might be concluded.Details of the amount budgeted for the turbines under the project were not available. And none of the three sources would estimate how much the turbine contracts might be worth.The talks could also lead to agreements beyond turbines, including the supply of critical power grid infrastructure, another of the sources said.WESTERN COMPANIES LOOK TO BENEFIT FROM RECONSTRUCTIONThe successful conclusion of deals would make Siemens Energy and GE Vernova among the first Western companies to benefit from the reconstruction of Syria's power sector, since U.S. President Donald Trump lifted most sanctions on Damascus earlier this year....
....MUCH MORE
Possibly also of interest: "Siemens Energy Reports, Raises Forecast, Resumes Dividend"
Coming into the close in Frankfurt Siemens Energy is up 9.65 euros (+9.55%) at 110.70 while in New York GE Vernova has clawed back all of yesterday's decline (-$17.23) and a bit more, up $
26.02
(+4.66%) to $
584.19
.
