May 16, 2024 [Iraqi News]- The Iraqi Prime Minister, Mohammed Shia Al-Sudani, sponsored a ceremony on Wednesday to sign a contract between Iraq’s Southern Refineries Company and China National Chemical Engineering Company (CNCEC) for the construction of the Al-Faw Investment Refinery project.

The project is part of the Iraqi government’s plan to increase Iraq’s refining capacities, attract foreign investments, and produce petroleum products locally, according to a statement released by the Prime Minister’s Office (PMO).

Al-Sudani confirmed that the project supports the refining and petrochemical industries in Iraq, urging CNCEC to complete the project as soon as possible and directing the concerned authorities to provide full support to the company.

With a capacity of 300,000 barrels per day, the refinery will meet all environmental regulations worldwide and utilize cutting-edge technology to produce oil derivatives for both domestic and international markets.

The project will be carried out in two stages: the first will involve refining operations, while the second will involve constructing a three million-ton-per-year petrochemical complex.

The project also includes the construction of a 2,000-megawatt power plant and the establishment of the Al-Faw Academy for Refinery Technology to train 5,000 Iraqi staff members, who would eventually supervise the refinery’s operations.

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