Iraq prepares to conclude a contract with "French Total" to set up a "giant" petrochemical project
Tuesday, 22 September 2015 13:14

Shafaq News / The Manager of Press Center in the Ministry of Industry and Minerals , Abdul Wahid al-Shammari expressed said Tuesday that the ministry is ready to conclude

a partnership contract with French Total Company to set up a giant project for the production of petrochemical south of the country, this came during a visit by the company's representative in Baghdad.

Al-Shammari said in a statement received by Shafaq News, that the aim of the visit is to hold a joint venture to build a project for the production of petrochemicals and focus efforts to diversify sources of income and take advantage of local products such as oil, gas and turn it into a plastic material because it is needed in the world today as well as the extraction of fuel to run power stations and gas after burning them but it's best to turn into industrial materials.

He pointed out that the success of the project will bring significant economic returns through foreign currency saving of the country through investment, noting that the establishment of the project in Basra province that have repercussions strategy in terms of containing oil and gas sources and the growing manpower as well as overlooking marine ports.