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Press Release

First GE Day in Erbil highlights region-focused partnerships to drive the growth of Kurdistan

November 22, 2011

* GE Day marks the opening of new office in Erbil
* High-profile panel discussion explores developmental opportunities in the Kurdistan Region
* Signs multi-million dollar, multi-year agreement with Mass Global Investment Company

Erbil, Iraq; November 22, 2011: GE (NYSE: GE) marked the opening of its dedicated office in Erbil, the capital of the Kurdistan Region of Iraq, with the first GE Day. The event underlined the company's focus on strengthening public private partnerships, highlighted by the recent multi-million dollar, multi-year agreement with Mass Global Investment Company to support power distribution in Northern Iraq. GE also committed to enhancing localization by creating new jobs and promoting knowledge transfer through training programs.

At the GE Day, over 200 government dignitaries and customers were present and a high profile panel discussion was held on the importance of 'Public Private Partnerships to Drive the Growth of Kurdistan.' Diyar Babon, Director General of Electricity Generation, Kurdish Ministry of Electricity; Ahmed Mufti, Advisor to the Prime Minister of the Kurdish Government; Nisar Talabany, Advisor to the Prime Minister of the Kurdish Government; and Nabil Habayeb, President & CEO of GE Middle East, North Africa & Turkey (MENAT) participated in the discussion.

One of the world's leading technology providers in energy, aviation, healthcare, transportation and capital, GE put the spotlight on how the private and public sectors can work together to support the growth aspirations of the Kurdistan Government in line with its Strategic Plan, and how these partnerships can promote the economic welfare and well-being of the Kurdish people.

John Rice, Vice Chairman and President & CEO for GE's Global Growth and Operations, who attended the GE Day, said: "The business friendly policies of the Kurdish government and the focus on infrastructure development are strong drivers for businesses, and have already brought about a transformational change to the region in a short span of time. In driving Kurdistan's economic growth, public private partnerships have a central role to play, as envisaged by the Government's Strategic Plan.

"With the opening of our office in Erbil, we are further underlining our commitment to support Kurdistan's onward journey of development by bringing our advanced technologies, promoting localization and transferring advanced skill-sets."

Nabil Habayeb, GE's President & CEO for the MENAT region, said: "GE's advanced technologies are a perfect fit to the developmental requirements of the Kurdistan region, and through our public and private partnerships, we have been able to address some of the real challenges faced by the people -- be it power shortage or access to quality healthcare??. We look forward to playing an integral role in supporting the Kurdistan Region's economic expansion."

"We are confident that we can further strengthen our public and private sector partnerships in Kurdistan, and help the Government in addressing its development requirements. We will continue to support the local Kurdish workforce and create new job opportunities for them."

The Kurdistan Government, over the past few years, has focused on wide-ranging developmental projects across all key growth sectors -- from energy to infrastructure development, healthcare,, water supply, power distribution and aviation. Across all these, GE has established strong partnerships that help the Government achieve its goals.

According to the Kurdistan Ministry of Electricity, the region's three governorates -- Dohuk, Erbil and Sulaimania -- require between 1,600 to 1,700 MW of power. To help address this, GE is delivering 18 GE Frame 9E turbines to Northern Iraq, designed to generate 2,250 megawatts by the end of 2011.

Through the agreement with Mass Global Investment Company, an independent power producer in Northern Iraq (IPP), GE will support the company to maintain the high reliability and overall performance of the 18 GE gas turbines installed at the Arbil, Sulaimaniyah and Dohuk power plants in the Kurdistan region.

The long-term agreement covers the supply of parts and repairs services for planned outages of the GE Frame 9E gas turbines over a period of 12 years. The agreement will also support the building of local technical expertise with a tailored training program for over 30 Mass Global engineers.

This agreement follows earlier announcements that GE is supplying Frame 9E gas turbines to Erbil, Sulaimania and Dohuk provinces. The GE Frame 9E gas turbines come equipped with flexible fuel handing capabilities, accommodating a wide range of fuels. With these agreements, Mass Global will generate over 2,250 MW of power for the Kurdistan region. It further reiterates the leading role that GE is playing in supporting the growth of the region's energy sector and the strong relationships the company has forged with leading utility providers.

The Kurdistan region has more than 47 productive oil & gas reservoir formations across its two major basins -- the Arabian and the Zagros -- accounting for about 43.7 billion proven oil reserves and close to 100 trillion cubic ft of gas, according to Kurdistan Regional Government estimates. GE's gas turbines have a strong presence in Iraq's oilfields due to their reliability and ability to use different fuels, highlighting the potential for stronger partnerships in the Kurdistan region.

Partnering in the healthcare infrastructure development plans of the Kurdistan Region, which today has over 460 primary health centers, GE Healthcare is providing advanced diagnostic technologies that are crucial to address the prevalence of an aggressive form of breast cancer -- a key concern for the government.

GE has already installed the first in-country digital flat panel biplane cardiac cath lab system in Dohuk, and is supplying the country's first radiation therapy CT technology to help oncologists deliver more precise treatment and drive a better outcome for cancer patients in the Kurdistan region, at the Qirgah Hospital in Sulaimania.

GE Healthcare has also been chosen as the supplier of choice by Farouk Medical Centre in Sulaimania for cardiac cath lab and clinical systems and devices; and has provided advanced healthcare technologies and solutions for the Azadi Hospital in Duhok, the Amal Cardiac Center and PAR hospital in Erbil.

GE also sees potential growth opportunities in the region in the aviation sector, which witnessed the opening of the state-of-the-art Sulaimania International Airport and Erbil International Airport; in alternative energy, with the Kurdistan Regional Government having invested in clean air fossil fuel technology power plants; and in driving water supply across the Kurdistan Region.

With a firm commitment to recruiting more Kurdish professionals, GE is providing advanced operational training and talent development programs for Iraqis. The company's acclaimed Oil & Gas University has imparted advanced training for over 100 Iraqi Ministry of Oil employees. To further empower Iraqi youth, GE plans to introduce its Graduate Management Program (GMP) in the country. To date, GE has trained over 300 Iraqis in technical and managerial skills.

Kelly Home
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600

Nivine William
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600

Caroline Wehbeh
GE Communications Leader, North Africa
[email protected]
+971 4 429 6318

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