Saudi Arabia's Ajyal to build petrochemical complex in Iraq
During their meeting in the Iraqi capital, Baghdad, the two sides discussed the details of the project, which is expected to be based in the southern Iraqi province of Basra, according to a statement cited by the National Iraqi News Agency (NINA).
According to al-Najm, the initiative is part of the ministry's objective to build strategic industries in Iraq to diversify revenue streams.
The Iraqi Prime Minister, Mohammed Shia al-Sudani, reaffirmed earlier that Iraq is moving to increase its petrochemical projects.
Al-Sudani indicated that the government's agenda, which includes attracting productive partnerships and providing the necessary investment climate, in addition to undertaking financial, banking, and tax reforms, increases the positive impact of foreign companies on the Iraqi economy.
Iraq's commitment to growing its petrochemicals, petroleum derivatives, fertilizer, and other promising industrial projects will attract foreign investment and expertise, build a stable and diversified economy, and generate additional employment opportunities.
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