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Baghdad: Saad Al-Sammak
Oil Minister Ihsan Abdul-Jabbar stated that the Al-Faw refinery project will be implemented with funding from the Chinese government and will accommodate the employment of 10,000 local workers.
Abdul-Jabbar said, in an interview: "The referral of the FAO refinery project to the Chinese company (CNCEC) comes after Iraq received binding guarantees of financing from the Chinese state-owned SASAC Corporation, which is the second largest economy in the world."
He pointed out that "the assignment contract included important strategic issues, such as clean energy, guarantees and transparency regarding support, technology transfer, and financial regulation, with items related to the environment, employment, importing modern technologies, and training workers in specialized centers for operation, maintenance, development, and technical and engineering performance."
Abdul-Jabbar suggested that “the project will enter into force soon, according to the latest technologies in refining crude oil and producing oil derivatives, plastics and petrochemical condensates,” noting that “the refinery will contribute to the employment of 10,000 workers, engineers, and intermediate staff, as well as the export of oil derivatives to the global market.”
He stressed that "Iraq targets in its plans other investments for the leading companies in the associated and free natural gas sector, and seeks to conclude contracts for infrastructure projects to escalate energies in the production of crude oil."
Abdul-Jabbar revealed that "received offers for the establishment of power stations powered by alternative energy from international companies, including the French Total and major international companies, which will be announced later."
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