Iraq Seeks New Investor for Chemical Complex

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Researched by Industrial Info (Sugar Land, Texas)--Iraq has plans to make investments in its Chemical Processing Industry to perform overhauls, rehabilitations and modernizations of existing facilities and build new units as well. The country has made several official announcements over the past few years to signal it is making progress and pushing forward with its ambitious mega project, the Nibras Petrochemical Complex at Basrah.

The project was announced in 2012 by the Iraqi government with Shell plc (NYSE:SHEL) (London, England) as a partner, but plans have seen significant delays amid political instability, financial problems and Shell's recent withdrawal. After in-depth evaluation of the feasibility of the Nibras Petrochemical Complex with its Iraqi government partners, Shell has decided to not proceed with the project. Now the Iraqi government is looking for another international company to become a partner.

The construction projects involved in the Nibras project require a total investment of approximately US$8.5 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for related reports on the project.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).