Schneider, Emerson land Iraq contracts in Basra

Schneider Electric SA also has new work in Iraq. The company signed a $29 million contract to build eight power distribution plants in the southern Iraqi oil hub of Basra. Iraq, holder of the world’s fifth-largest oil reserves, is struggling to raise power output, which was about 8,000 megawatts in April, just more than half of its domestic demand of about 14,000 megawatts, according to government figures. Iraqis currently receive power from the national grid for an average of about one hour in every five, according to Bloomberg news reports.