Today, Wednesday, the State of Iraq, represented by the Ministry of Oil, signed a contract with the Chinese National Chemical Engineering Company (CNCEC) for the Al-Faw Refinery Investment Project with a capacity of 300,000 barrels per day, as part of the Al-Faw Grand Port projects.

The media office of the Prime Minister, Muhammad Shia al-Sudani, said in a statement that the contract, which was signed on behalf of Iraq by the “Southern Refineries” Company, affiliated with the Ministry of Oil, comes within the government’s plan to increase refining capacity in Iraq, attract foreign capital, and provide petroleum products locally.

The statement stated that the Prime Minister urged the Chinese company to expedite the implementation of the project, and also directed the concerned authorities to provide full support and support to the implementing company.

He explained that the project is being implemented in two phases: The first includes refining works, while the second phase includes the construction of a petrochemical complex with a capacity of three million tons annually, in addition to the construction of an electrical station with a capacity of 2000 megawatts. The project also includes the establishment of the FAO Academy for Refinery Technology; To train five thousand Iraqi cadres who will manage the refinery in the future.

The Grand Al-Faw Port project is one of the most important strategic projects in Iraq. It is expected to contribute to revitalizing the Iraqi economy and enhancing its regional and international role.

The project includes the construction of five giant docks for unloading ships with a length of 1,750 metres, a container yard with a length of 2,000 metres, as well as 62 km highway bridges next to the city of Umm Qasr.

According to estimates, the large port of Al-Faw will be able to accommodate 120 million tons of goods annually. Which will make it one of the largest ports in the world.