Industry and Shell to attend a joint venture company to implement a petrochemical complex Basra

2015/8/13 11:00

Urbanization and the Ministry of Industry and Minerals and the company Shell International, to create a company "joint" between them to implement a project of petrochemical complex in the province of Basra.

According to a ministry statement, received by the agency all of Iraq [where], a copy of "The minister Mohammed Darraji, held a meeting attended by Undersecretary Technical Chairman of the Supreme Committee for Petrochemical Industries and fertilizer in Iraq just cream, and members of the committee of two directors in the ministry, to discuss and debate the most important projects strategy in the field of petrochemicals and fertilizers that the ministry seeks to implement through investment contracts with international companies, as well as discuss the latest developments taking place and the progress of work in the huge beacon project which was signed by the ministry with global specialized industry petrochemical Shell the previous phase and scheme implemented during the next stages. "
"The meeting reviewed the work and efforts of the ministry in this field and procedures of the Committee and the level of progress achieved during the previous stage of negotiations with major international companies and the signing of memorandums of secret understanding information with them, in preparation for the signing of the actual investment contracts, which resulted in the signing of an agreement with Shell International to create a global complex of petrochemical industries in Basra province as the beacon at a cost estimated at $ 11 billion, which is the fourth largest petrochemical project in the world Card 1.8 million tons per year. "

He pointed to "reach the advanced stages of work and preparation for the establishment of a joint venture between the Ministry of Industry and Minerals Company and Shell International, was presented as stages to be carried out and planned it in the future."

The statement confirmed the minister Darraji "the ministry's keenness to press ahead with this huge strategic project, to develop the energy and petrochemical sector in Iraq and the exploitation of its natural resources, which constitute an important and attractive investment incentive," stressing "the need for intensive efforts in the coming years to accelerate the stages of labor and delivery because of its an active and important role in promoting the economic reality of the country. "

The, the Ministry of Industry and occurred in 29 of January last, an agreement with Shell International to create a complex "beacon" Petrochemical $ 11 billion in the province of Basra in southern Iraq, within five years, noting that the project will make Iraq the largest producer of petrochemicals in the Middle East .anthy