Končar wins a $68 M agreement
Croatia, Zagreb: KONČAR Group has signed an agreement worth $68 M (€65 M), with Iraq’s Ministry of Electricity (MOE) for the revitalization of HPP Haditha.
Image source: KONČAR Group
Croatia, Zagreb: KONČAR Group has signed an agreement worth $68 M (€65 M), with Iraq’s Ministry of Electricity (MOE) for the revitalization of HPP Haditha.
The hydro power plant built in the 1980s, with the installed capacity of 6×128 MVA, is one of KONČAR’s flagship projects. The revitalization will be spearheaded by KONČAR – Engineering (KET) and will include several members of the KONČAR Group, the regional leader in the electric power industry. Under the agreement, the company will carry out a partial revitalization of generation units, replace part of MV and HV equipment, the entire plant management systems, the excitation system and the electric protection system, and will upgrade mechanical subsystems and hydromechanical equipment.
Consultations with the customer were continued after ten years, followed by a new 18-month round of negotiations in a completely new political environment. The result was another historic step forward in the global market, by signing the agreement for the revitalization of HPP Haditha. In the past 10 years, KONČAR has performed a series of smaller agreements, mainly for the delivery of equipment and spare parts for the plant on the Euphrates River, and other facilities such as HPP Hemren. The latest agreement marks the Company’s return on the Iraqi market, securing its position as the leading Croatian exporter.
The signing ceremony was held at the headquarters of the MOE, where the agreement was signed by Ivan Tomšić, Member of the Management Board of KONČAR – Engineering (KET) and Ali Ahmad Hassan, Managing Director of GEEP (General Directorate of Electricity Production). Dario Runjić, director of business segment Power Generation, also attended the signing ceremony as part of the KET delegation.
“We are honoured that Iraq’s Ministry of Electricity entrusted KONČAR with such a significant project. Extensive negotiations and a proven global track record in this segment have helped the Company win this project, thus confirming our ample experience, quality and reliability of our high-tech solutions. The signing of this agreement opens the door to new deals in Iraq, not only in terms of HPP Haditha, but also in terms of the rest of the Iraqi market”, says Gordan Kolak, President of the Management Board of KONČAR.
Source: KONČAR Group