Japanese firm JGC Corp won the bid to construct a new oil refinery in Iraq. The contract aims to build a 55,000 barrels per day refinery in the southern region of Basra according to the oil ministry.
The cost of the project was estimated to be around $4 billion and will produce fuels including liquefied petroleum gas, gasoline, and gasoil.
About 7,000 workers will benefit from this new refinery aside from the 70 thousand hands needed during the implementation of the project. Construction may take up to 4 years according to Hussam Wali, general director of the South Refineries Company.