Siemens is reportedly close to agreeing a deal worth up to $10.6 billion to supply energy generation and power transmission technology to Iraq, government and industry sources told German news outlet Handelsblatt, according to Reuters.

The Iraqi government has not yet made a decision on whether to accept the Germany company’s offer, which has been backed by German Chancellor Angela Merkel, according to Handelsblatt.

Siemens CEO Joe Kaeser travelled to Iraq on September 23 in an attempt to obtain a memorandum of understanding (MoU).

“We had submitted our roadmap document for repowering Iraq to Prime Minister Haider Jawad Al-Abadi in February,” a Siemens spokesman stated, adding that feedback from the Iraqi government has been positive.

“Through our proposal, we aim to add 11 gigawatts of power generation capacity in four years, create thousands of jobs in the country, and support anti-corruption, skills development and education among Iraqis,” the spokesman said.