Japan agree to give Iraq a loan of two billion dollars to develop and rehabilitate the Basra oil refinery

24-07-2016 | 11:30:49

Twilight News /

Chairman of the Commission on oil and gas in the Basra Governorate Council Ali Shaddad Knight said on Sunday that the Japanese government agreed to give Iraq a loan of two billion and a $ 100 million dollars to implement a range of rehabilitation projects in the Basra oil refinery, adding that the interest of the proportion of this the loan amounting to 2% and repayable over a period of 40 years.

Said Knight in a statement responded to the Twilight News, said that "these funds will be allocated to implement a range of vital and strategic projects in the Mustafa Basra venture (hydrogenation gas oil) card (20) thousand barrels per day, in addition to project and cracker unit Catalytic (FCC), which is the largest of its its kind within the liquidation projects, "pointing out that these projects will be the termination of them by 2020."

He continued, "This project goalscoring to develop the refinery mentioned and bring it to a daily production of an estimated 4500 tons of reformulated gasoline and 27,000 barrels of fuel oil and (40,000) barrels of hydrogenated gas oil, which is produced for the first time in Iraq, according to international standards in addition to the production of 500 tons of liquid gas which enhances the actual need of the country. "

Among Knight "to obtain the Japanese loan came after the great efforts made by the Iraqi Oil Ministry to persuade the Japanese side to agree to give Iraq a financial loan, which will contribute positively to develop the Basra refinery oil amount."