Swiss Firm to Build $6bn Refinery

By John Lee.

Prime Minister Nouri al-Maliki says Iraq has signed a $6 billion deal with Swiss company Satarem to build and run southern Iraq's first new, large-scale refinery in 30 years.

The oompany will set up the 150,000 barrel-per-day refinery near Amara, in Missan [Maysan] province, on a 50-year build-own-operate (BOO) contract.

Satarem was created in 1992 by Mr.Jérôme Friler and Mr.Adolf Wong, registered in Switzerland and operating across the globe providing solutions for heavy engineering industries.

(Sources: Prime Minister's Office, Iraq Oil Report)