May 21 2012 |
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Denmark's Phoenix signs contract for production of oil pipelines in Basra
By Murtaza al-Yousof ERBIL - Danish company Phoenix International has signed a contract with the local Investment Authority in Basra to implement a project for the production of oil pipelines worth $86m (99.9bn IQD).Basra's Investment Authority said in a statement that Phoenix was granted the project license for a 250-acre area in the town of Umm Qasr, south of Iraq.
The investment duration will be 35 years, which is subject to renewal.
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