Japan sets deadline for completing the $4.5 billion oil refinery project in Basra

 
Baghdad-INA

The Japanese Ambassador to Iraq, Futoshi Matsumoto, announced today, Tuesday, the commencement of the first phase of the water supply improvement project in Samawah. He also set a timeline for the construction of a large oil refinery in Basra.

Matsumoto told the Iraqi News Agency (INA), "There are Japanese companies eager to work in Iraq, such as Komatsu, renowned for manufacturing construction machinery." He emphasized that "Komatsu is very interested in investing in Iraq and sent a delegation to Basra to assess the high-quality machinery needed by Iraq."

Regarding Japanese projects and loans, Matsunaga affirmed, "Japanese loans are crucial for revitalizing the Iraqi economy and providing opportunities for the government to attract more Japanese companies, especially in infrastructure and oil projects."

He added, "JGC Corporation, which is constructing a large oil refinery in Basra, has invested $4.5 billion in the project." Matsunaga noted, "It will take two years to complete the project, requiring substantial loans from Japan, which come with significant advantages."

Regarding the water supply improvement project in Samawah, the Japanese ambassador explained that "the Japanese company has started the design and the first phase of the project, which will take more than five years to complete." He emphasized, "This project is crucial for the people of Samawah, and we are exerting maximum efforts to ensure its implementation."