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Esawi told a press conference in Baghdad the
Nibras complex, which is expected to come on line within five to
six years, would make Iraq the largest petrochemical producer in
the Middle East.
"The Nibras complex will be one of the largest (foreign)
investments (in Iraq) and the most important in the
petrochemical sector in the Middle East," Esawi said.
A Shell spokesman told Reuters Iraq's cabinet had authorised the
project on Jan 13.
"Shell has been working with the Iraqi ministries of industry
and minerals and jointly with the ministries of oil and
transport to develop a joint investment model for a world-scale
petrochemical cracker and derivative complex in the south of
Iraq," he said.
Shell is one of the main major oil companies operating in south
of Iraq, operating the Majnoon oilfield and leading the Basra
Gas Company joint venture. It signed a memorandum of
understanding with the ministry for the Nibras project in 2012.
(Reporting by Saif Hameed; Writing by Stephen Kalin; Editing by
Louise Heavens and Greg Mahlich)
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