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Iraq calls for investors to build two refineries

Image of an oil refinery plant ]TheKurgan/Wikipedia ]
Oil refinery plant, 2 May 2017 [TheKurgan/Wikipedia ]

The Iraqi Oil Ministry on Sunday has invited investors to submit bids for the construction of two refineries with a capacity of 170,000 barrels per day, south of the country.

The ministry said in a statement posted on its website that the first refinery will be built in the province of Wasit with a production capacity of 100,000 barrels per day while the second refinery will be built in the province of Diwaniyah with a production capacity of 70,000 barrels per day.

The statement called on interested investors to submit their bids no later than June 14, noting that the project will be offered on a Build-Own-Operate or Build-Own-Transfer basis.

According to the statement, the products of the two refineries must be environmentally friendly and in accordance with international standards.

According to the statement, investors will be exempted from taxes under the Investment Law No. 13 of 2006.

Read: Iraq denies pull-out from oil-rich Kirkuk

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