Beirut based Primesouth has filed for arbitration against Iraq at The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) over a contract to overhaul and operate the ageing 640MW Al-Doura oil-fired power plant near Baghdad.
Iraqi MPs and media have often singled out the project for corruption since initial plans were made public in 2017. A little-known Dubai based Iraqi oilfield services subcontractor called Al Nukhba Energy was accused of corruption after the electricity ministry chose it to deliver the work. In April 2019, the Iraqi cabinet awarded the 10 year “rehabilitation, maintenance and operations” contract in two tranches under a single power purchase agreement (PPA). (CONTINUED - 281 WORDS)