Iraq will soon launch its mega Nibras petrochemicals project in partnership with Shell after a delay of several years, an Iraqi deputy was quoted on Friday as saying.

Adnan Al-Jabri, a member of Parliament’s Oil and Gas Committee, said Nibras in the Southern oil hub of Basra is slated to be one of the world’s largest petrochemical ventures with a capacity of 1.8 million tonnes per year.

“…the project will be launched shortly because it is within the government project programme,” he told Alforat News agency.

The agency quoted project manager Hussein Ali as confirming earlier reports that Nibras would cost nearly $8.43 billion and would fetch Iraq about $1.4 billion a year.

Read more: Iraq meets contractors, consultants for mega petrochemical project

Iraq’s budget includes funds for Nibras petrochem project

(Writing by Nadim Kawach; Editing by Anoop Menon)


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