Iraq Reopens Al-Shamal Refinery After A Decade Of Inactivity

2024-02-25 09:00:16

(MENAFN- Iraq Business News) By John Lee.

On Friday, Prime Minister Mohammed Shiaa Al-Sudani reopened the al-Shamal refinery at the Baiji Refinery complex.

The plant has been rehabilitated by the Northern Refineries Company (NRC) , having been inactive for more than ten years.

The Prime Minister said the opening brings Iraq closer to fully securing the country's needs for petroleum products by mid-next year, adding that this will save billions of dollars that can be invested in other service and economic sectors by halting the importation of petroleum products, thereby achieving reform.

He also affirmed the government's preparation for investment projects both inside and outside Iraq, adopting a new policy of investing in petrochemical and downstream industries to achieve greater returns.

(Source: PMO)

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