Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq.
“Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural gas reserves to develop the Iraqi industry and to benefit from these materials to produce the basic materials for the petrochemical industries,” Mohammad Abdullah, undersecretary for companies' affairs at the Ministry of Industry, said during the signing ceremony.
“There is a high level of coordination with the oil ministry regarding providing the raw materials necessary for the petrochemical industries and nitrogen fertilizers,” he added.
“The project will contribute in offering job opportunities for a large number of people and will decrease the unemployment rate.”
(Source: Aswat al-Iraq)