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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Basra is preparing to launch giant projects

    Rocky
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    • Post n°1

    Basra is preparing to launch giant projects Empty Basra is preparing to launch giant projects

    Post by Rocky Mon 22 Mar 2021, 7:57 am

    Basra is preparing to launch giant projects

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    Basra Governorate, which is the lung of Iraq, is preparing to launch giant projects in various economic development fields, including the large port of Faw, the artificial island for the export of oil, and major steel and iron projects, at a time when Basra continues to be on the top of the list of global cities influencing the provision of energy sources, the balance of supply and demand, and price stability World record barrel of oil. 
    Oil Minister Ihssan Abdul-Jabbar said in a press interview, that “Basra exports more than two million standard barrels per day through its oil ports in the northern Arabian Gulf,” indicating that “this extractive material constitutes about 90% of the country's financial resources annually.”
    Abdul-Jabbar explained, “Two years ago, the Ministry of Oil signed a memorandum of understanding with a Dutch company to complete a study project for the construction of the (artificial oil island) in the northern Arabian Gulf by next year 2022, with an export capacity of 3 million barrels per day, and a capacity of 6 million standard barrels, with Raising storage capacities at a higher rate in the future, to meet the global market’s needs of crude oil, ”indicating that“ the repercussions of the Covid-19 epidemic affected the global economy and investments, causing a slowdown in the subsequent steps of the project. ”
    Among the strategic projects under discussion and implementation that aim in the long term to boost production in Basra, the Minister of Oil stated that “negotiations are continuing between the Ministry of Oil and the American (ExxonMobil) and Chinese (PetroChina) companies regarding investment in the (Integrated Southern Iraq) project in the field of Energy, ”referring to“ the cabinet vote in mid-2019 to establish the project, worth 53 billion dollars, and for a period of 30 years. ”
    On the other hand, government efforts are continuing in Basra Governorate, with government efforts to complete the final stages of the (Faw Grand Port) project, which is one of the largest ports in the world. Transport Minister Nasser Hussain Bandar announced, "The signing of the contract for the construction of the first phase with the South Korean (Hanowa) Company." , Indicating that "the project consists of 5 berths and deepening the navigation channel to 21 meters. The contract also included the construction of the tunnel that connects the port with the highway west of Basra."
    In addition, the Ministry of Industry has embarked on the revival and development of the major industrial companies of petrochemicals, fertilizers, and iron and steel in the Khor Al-Zubair industrial area.
    The Director General of Iron and Steel, Abbas Hayal, said that "foreign companies started their work last year in a project to rehabilitate, modernize and install the equipment of the rolling mill and steel plant with a capacity of 600 thousand tons annually," indicating that "the Council of Ministers approved in accordance with Resolution 25 of 2017 to proceed with the implementation of my contract. Rehabilitation of steel and rolling mill manufacturers and their services by the Turkish UP Holding Company during a period of (20) months at a cost of (118) million dollars with commitment to the agreed production capacity of (500) thousand tons per year, making the General Company for Iron and Steel one of the profitable companies that are able to secure The salaries of its employees and enables it to achieve profits. "
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