BASRA: Royal Dutch Shell signed an agreement worth 11 billion dollars (12.8 trillion Iraqi dinars) to build a petrochemical plant in Basra (Iraq).
Industry Minister Nasser al-Esawi (Nasser al-Issawi) told a press conference that the Nibras complex would make Iraq the largest petrochemical producer in the Middle East.
The news comes two weeks after Shell announced that it will not proceed with the proposed Al Karaana petrochemicals project in Qatar.
The Nibras project is expected to come on line within five to six years.
