China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq
This news report was first published in Iraqi News: https://www.iraqinews.com/iraq/chinas-cncec-to-build-al-faw-investment-refinery-project-in-southern-iraq/.
Iraqi Prime Minister Mohammed Shia Al-Sudani oversaw a significant milestone on Wednesday as the Southern Refineries Company inked a deal with China National Chemical Engineering Company (CNCEC) for the Al-Faw Investment Refinery project.
Part of Iraq's strategic vision to bolster refining capabilities and draw foreign investment, the project aligns with the nation's goal to domestically produce petroleum products, as per a statement from the Prime Minister’s Office (PMO).
Al-Sudani emphasized the project's pivotal role in advancing Iraq's refining and petrochemical sectors, urging CNCEC to expedite construction while pledging full government support.
With a capacity of 300,000 bpd, the refinery is committed to meeting global environmental standards and will employ state-of-the-art technology to supply oil derivatives to both local and international markets.
The project unfolds in two phases: initial operations focusing on refining, followed by the construction of a three million-ton-per-year petrochemical complex.
Moreover, plans encompass the establishment of a 2,000-megawatt power plant and the creation of the Al-Faw Academy for Refinery Technology, aimed at training 5,000 Iraqi professionals to oversee the refinery's operations.
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