German industrial major Siemens has signed a memorandum of understanding to provide electricity to Iraq in detriment of his American rival General Electric (GE), reports DPA.

Representatives of the German group, based in Munich, and the Iraq Ministry of Electricity signed this agreement to expand Iraqi energy capacities, the Iraq Government and Siemens have announced on Sunday.

According to FT, the contract is worth 15 billion dollars.

The agreement provides for an increase in Iraq energy capacity of 11 gigawatts over the next four years, representing a doubling of current capacity, according to Siemens.

“The roadmap mentions savings of billions of dollars and additional electricity production 24 hours a day, seven days a week for 23 million peoples,” Siemens said in a statement.

The deal was in danger until recently, after the US president Donald Trump exerted pressure on Baghdad to award the contract to GE.

“Our commitment to the Iraqi people is solid. We promised to provide him with affordable and reliable energy, to help fight against corruption, build schools and hospitals, and create thousands of jobs”, said Siemens AG President and CEO Joe Kaeser.

These commitments have contributed to the conclusion of the agreement with the Germans, Kaeser said.

In spite of fact that Iraq has one of the largest oil reserves in the world, the Iraqi population is affected by poor electricity supply, which has prompted bloody protests in recent weeks and months.