$30m oil, petrochemical project in Diwaniya

DIWANIYA / IraqiNews.com: An Arab company will conduct a large oil project in Diwaniya province at a total cost of $30 million U.S. dollars, the chairman of Diwaniya’s Investment Commission said on Wednesday. “Al-Saeed Group will carry out an investment project that includes the establishment of a large oil refinery with a capacity of 650,000 barrels a day on an area of 1,200 donums in al-Shanafiya district (80 km west of Diwaniya),” Engineer Hakim al-Khazaali told IraqiNews.com news agency. “The project also includes the construction of a petrochemical factory at the same location,” Khazaali noted. The estimated completion period is three years, the source explained, adding that work will start on the project as soon as a ministerial approval is obtained. Diwaniya, the capital city of Diwaniya province, lies 180 km south of Baghdad. SS (P)/SR 1