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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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    Iraq awaits the "largest" project in the region... 40,000 job opportunities and "billion" profits

    Rocky
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    Iraq awaits the "largest" project in the region... 40,000 job opportunities and "billion" profits Empty Iraq awaits the "largest" project in the region... 40,000 job opportunities and "billion" profits

    Post by Rocky Sat 13 May 2023, 4:54 am

    Iraq awaits the "largest" project in the region... 40,000 job opportunities and "billion" profits 

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    Economy News - Baghdad
    The Iraqi economy is awaiting the launch of the "Nibras" project for petrochemical industries in Basra Governorate, which is the largest in the Middle East, with a production of 1.8 million tons of petrochemical materials and annual profits of more than $1.4 billion.
    The project manager, Hussein Muhammad Ali, said in an interview with the official newspaper, "Al-Sabah", that "the production capacity of the project includes the production of one million and 820 thousand tons of various petrochemical products, and that its location will be in the Basra Governorate, Khor Al-Zubayr," pointing out that "the project includes two phases; the first is preparation Study and designs, and the other direct implementation stage.
    Ali explained, "The estimated cost of the project amounts to 8 billion and 540 million US dollars, and its annual profit returns are estimated at 1.4 billion US dollars," noting that "Iraq's participation in the project amounts to 51% equally between (the ministries of industry and oil), while (Shell Chemicals) will participate by 49%.
    He continued, "The basic principles of the Nibras project were signed on January 28, 2015, according to a decision of the Council of Ministers at the time, and that it included several studies," noting that "the positive benefits of the project for Iraq are diverse and include building a giant industry and making Basra a station of interest for global investors."
    He added, "The project will exploit surpluses of natural gas and attract foreign capital, in addition to providing large job opportunities during the construction period, estimated at 40,000 mobile job opportunities, in addition to exploiting job opportunities during production operations."
    He pointed out that "the project takes into account the establishment of transport lines and small railways inside Basra, and the establishment of hundreds of factories specialized in plastic and rubber industries in all governorates, which will be reflected in the creation of hundreds of job opportunities in each governorate."
    And he continued, "The area on which the project will be built will develop, be safe and environmentally friendly, and residential complexes will be established," noting that "the Council of Ministers issued a decision to subsidize the price of gas supplied by the project, and the support will be through the Ministry of Finance, and the decision resolved the land file and the obstacles that were hovering over the project.
    Ali concluded his speech by saying, "We are now in the process of procedures for the issuance of title deeds, and the file will be resolved within two weeks from now, and the project is greatly supported by the Council of Ministers and the Prime Minister personally," expecting "the laying of the foundation stone for the Nibras project in the coming days."


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