S Korean Company Will Start Withdrawing Its Equipment From The Oil Refinery In Karbala Because Of The Financial Crisis
Karbala / Chairman of the Economic Committee in the province of Karbala, Nasser al-Khazali announced that the South Korean company, implementing the refinery project in Karbala, began to withdraw its equipment after stopping financing the oil project.
Khazali said in a statement to the National Iraqi News Agency / NINA /: The "stop the oil refinery in Karbala project is a great loss for the Iraqi economy, where the project is one of the strategic projects for the Middle Euphrates region and for Iraq in general."
He added, "The refinery project stopped due to the reluctance of the Iraqi government to pay dues to the Korean company to finance the refinery project in Karbala, which forced the Korean company to withdraw its vehicles and equipment."
It is mentioned that the Korean company was hoped to complete the project at a cost of six billion dollars, but has not received so far only 600 million dollars.
Source: National Iraqi News Agency