Prime Minister Muhammad Shiaa Al-Sudani sponsored today, Wednesday, the signing ceremony of the Al-Faw Refinery Investment Project, one of the major Al-Faw Port projects, between the Ministry of Oil/Southern Refineries Company and the Chinese company (CNCEC), as part of the government’s plan to increase refining capacities in Iraq, attracting foreign capital and providing petroleum products locally.

Al-Sudani stressed that the Al-Faw Integrated Refinery Project is one of the important economic projects for the country, and it supports the refining and petrochemical industries in Iraq. He urged the Chinese company to invest time to accelerate the implementation of this project. He also directed the concerned authorities to provide full support to the implementing company.

The capacity of the refinery is 300 thousand barrels per day, and it will be constructed in an advanced manner, taking into account international environmental standards, and with modern technology to benefit from petroleum derivatives for
the purposes of local consumption and export. It will be implemented in two phases, the first of which includes refinery work, while the second phase includes the construction of a petrochemical complex with capacity 3 million tons annually, in addition to the construction of an electrical station with a capacity of 2000 megawatts. The project also includes the establishment of the Faw Academy for Refinery Technology to train 5,000 Iraqi cadres who will manage the refinery in the future.

The project will contribute to opening wide doors for local industries that rely on these materials, which will be accompanied by an increase in job opportunities for young people and graduates, in addition to the possibility of achieving social benefits for developing the areas surrounding the project, building housing units, medical services, technical training centers, as well as sports and social centers.

Source: National Iraqi News Agency