Oil Minister announces transmit Al-Faw refinery to a Chinese company

Economy

14-07-2021, 02:39

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Baghdad-INA

Ministry of Oil announced the transfer of the large Al-Faw investment refinery to the Chinese state-owned CNCEC Company.

The ministry stated that "in the presence and sponsorship of Oil Minister Ihsan Abdul-Jabbar Ismail, it was announced that the large Al-Faw investment refinery with a capacity of 300,000 barrels per day was referred. Ministry added, "and the construction of the strategic Al-Faw petrochemical complex to the Chinese state-owned CNCEC. Oil Minister Ihsan Abdul-Jabbar Ismail said, according to the statement, that "this project is the largest investment project in the oil industry, and a quantum leap in the oil refining sector and petrochemical industries.