Iraq asked investors to compete to build four power plants and help the country meet burgeoning electricity demands, promising a healthy profit for the winners.

Egypt is in the process of expanding the countrys power capabilities by building new power plants and is taking the first step to the creation of an Egyptian Electricity Market which would be a first for the region.

Syria has awarded Ansaldo Energia, a unit of Italys Finmecannica, and Greeces Metka, part of Mytilineos Holdings, to build a $973mn power generating plant in the country.

Saudi Electricity Company (SEC) has signed a new deal worth US$3.4bn with South Koreas Doosan Heavy Industries and Construction to build a 2,555 MW power plant at Rabigh.