Thursday 30th August 2007
DUBAI: Royal Dutch Shell and Dow Chemical are in talks with the Iraqi government to renovate and expand a chemical plant in southern Iraq at a cost of up to $2.1 billion, the Iraqi industry minister said.
The talks on creating a joint venture or reaching a profit-sharing agreement could be concluded this year, Fawzi Hariri said.
“We are looking to upgrade this, and evaluate what type of products and facilities we need for the local market and beyond,” Hariri said of the plant near the city of Basra.