By John Lee.
The Iraqi Cabinet has endorsed a recommendation for financing the Fluid Catalytic Cracking (FCC) project, which it says is contracted by the South Refineries Company (SRC) with a Japanese company.
Iraq Business News understands this to be the Basra Refinery Development Project, which is to be built by Japan's JGC Corporation.
The cabinet approved the lowering of port storage fees by 75 percent for materials used in this project.
It also instructed the General Company for Iraqi Ports (GCPI) to create dedicated areas for government imports.
(Source: Media Office of the Prime Minister)
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