U.S. firm seeks petrochemical investments in Basra

BASRA / IraqiNews.com: The Basra Investment Commission is on its way to grant a U.S. firm permission to invest in petrochemicals and oil services in the province, the Commission’s head said on Wednesday. “The Commission is within the final steps to study the company’s offer to invest $60 million in petrochemicals and oil services in the Basra province,” Dr. Hayder Fadhil told Iraqi News. “The project will occupy an area of 120 thousand squared meters, and will employ around 700 Iraqi engineers and technicians,” he said. The oil-rich city of Basra lies 590 km south of Baghdad. MH (P)/SR 2