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OPEC oil producer Iraq has allocated land area of 11 square kilometres for the giant Nibras project which is slated to be the world’s fourth largest petrochemical complex, Aliqitisad News network and other Iraqi publications said.
Basra Governor Asaad Al-Idani approved the site in the Southern oil hub on Wednesday, signalling that Baghdad is finally pushing ahead with the 1.8 million tonnes per year petrochemicals project after a long delay.
Shell owns 49 percent of Nibras and the rest by Iraq’s Oil Ministry. It was signed in 2015 but was blocked by cash shortages and internal conflicts.
Read more: Iraq set to launch Nibras mega petrochemicals project
Iraq meets contractors, consultants for mega petrochemical project
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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