Industry» intends to establish a petrochemical project in Basra

Approved ads Maysan factor as an investment opportunity

Baghdad – new morning:

Experts and researchers with regard to activate industrial companies whether State-owned or private, as well as hybrid has a significant impact on the local economy and the legalization of imports and opening new production lines as well as providing new business opportunities besides create competition quality with similar products.
Under article 28 of the draft budget law for the year 2016 federal departments buy products manufactured in labs and factories Government revived public sector companies and mixed, the consequent socialization of industry Ministry processing requirements of government departments.
In this vein, the Ministry of industry and minerals plans to conclude a partnership with total French giant project to produce petrochemicals in Basrah governorate.
Statement issued by the Office of the Minister of industry Mohammed Al-daradji holder reaffirmed during his meeting with the delegation of total, Tuesday, that "the purpose of the visit was for the purpose of discussing a partnership project of the petrochemical and efforts focused on diversifying income sources and take advantage of local products such as oil and gas, converted to plastic materials in addition to extract fuel to run power stations and cooking gas after burning it but it is better to turn to synthetic materials» , Saying that "the success of the project will bring significant economic payoff by providing work hard for the country through investment.
He explained that the» project in Basra in Iraq in terms of repercussions to contain oil and gas sources and increasing labour as well as views on maritime ports.
The statement noted "the Ministry is ready to conclude a partnership agreement with the French to establish this Totale giant project for petrochemical production.
Recall that, Ministry of industry signed on 29 January an agreement with Shell International to create complex «beacon» petrochemicals worth 11 billion dollars in Basra governorate, within five years, noting that the project will make Iraq the largest producer of petrochemicals in the Middle East.
By the last Governor of Maysan to the duway required that the time has come to take the Ministry of industry of its decision to restart the stalled parameter in conjunction with the country's financial and economic crises.
Necessary said in a press release received a «new» morning copy after meeting Minister of industry Mohammed Al-daradji, holder said Tuesday that Maysan province, seeking in each direction to develop and rehabilitate and restart stalled plants and move the wheel production to serve citizens through supporting local products and markets as well as eliminating existing unemployment in the province through labour and to restart the plants and return her life».
He added that he discussed ways to restart those factories that stopped working since the fall of the former regime, and it was agreed the Declaration of factories as an investment opportunity for joint investment method.
Maysan province featuring countenance, oil and agriculture as well as gaining an important industrial plants through a big local markets need different products such as sugar mills, paper and vegetable walblastk.

Balancing 2016
In a press release issued Tuesday by the Center for economic information on balancing 2016 and its role in the development of the productive sectors to develop local economy, confirmed the Centre «article 28 is the essence of recovery of national industries and public companies and hybrid because it required federal institutions to buy national products needs to update production lines and enable the expansion of Government and reduce import and flooding the market with inferior products, and this includes the vocabulary of ration card which obliges the Ministry of trade to purchase oil from vegetable oils General company, as The Ministry of the Interior and of defence equipped with clothing and leather industries of the Ministry of industry companies and to cover all the needs of Chambers of imported products, including the Ministry of health, which will depend on the design of medicine in Government processing of various types of medicines, bandages and vaccines».
He added that the Ministry of industry had demanded the application of the content of this article since 2008 but it was not implemented until now has led to the deterioration of public and industrial reality of extinction and the Finance Ministry was unable to meet its obligations to employees because of low productivity and lack of modernization of production lines.
He said the Centre should "apply rule 28 requires that laws and issue regulations and instructions to be implemented correctly and stay away from corruption that hampered the implementation of workshops, expecting that after the implementation of article 28, the Ministry of industry will see the opening of new plants and production lines to suit developments to compete with imported products in terms of price and quality through investment and participation in line with the laws in force.