By John Lee.
Iraq's Etihad Food Industries will reportedly start production at its new $100-million edible oils refinery in Babylon by the end of the year.
Commercial Director Haidar Alnoumany told Reuters that the company started building the infrastructure two months ago, and when in production it will source crude (edible) oil from many origins like Argentina, Ukraine, Russia and the United States.
The refinery will process corn oil, sunflower oil, soybean oil, and palm oil, and aims to cover the needs of Iraq's trade ministry (around 456,000 tonnes a year) and the domestic private market.
It will have a capacity of 3,000 tonnes a day with a refined oil storage capacity of 90,000 tonnes.
The plant is close to the company's sugar refining plant, which started production last year and ramped up faster than expected, reducing the country's dependence on white sugar imports.
(Cooking oil image via Shutterstock)