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FINANCIAL NEWS
Iraq, Shell sign USD11b deal on new plant
29 Jan 2015
(MENAFN) Iraq’s Industry Ministry said that it has signed a USD11 billion deal with Royal Dutch Shell for the building of a petrochemicals plant in the southern oil hub of Basra, Gulf Daily News reported.
The Ministry said that the Nibras complex, which is expected to come on line within five to six years, would make Iraq the largest petrochemical producer in the Middle East.
“The Nibras complex will be one of the largest foreign investments in Iraq and the most important in the petrochemical sector in the Middle East,” the Iraqi Industry Minister said.
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