On: Saturday 02/25/2012 18:29
Citizen - Follow-up
Newspaper (Nikkei Shimbun), published in Tokyo that the Japanese Government will provide a soft loan of $ 160 billion yen (billion dollars) for refinery project in Iraq, provided that the contract gives the basic Japanese company.
The newspaper pointed out that the refinery will be part of a large refinery complex has been run previously in the (Basra). This is the largest loan provides assistance to the Iraqi project ever. The newspaper pointed out that the loan will cover the full cost of the project will be extended only if the basic contract was awarded to oversee the construction of a Japanese company. Terms and require aid as well spend $ 50 billion yen $ 624 million of products in the refinery to be built in Japan. Offers will be delivered to contractors in the next year and will determine the final selection in 2014.
According to the report, it is expected to compete Company (JGC Corp.) and Japanese engineering company (Chiyoda Corp.) and Al (Toyo) engineering on the underlying contract. And restrict the Organization for Economic Cooperation and Development under the tied aid rules for development assistance, but in the case of Iraq and build a refinery through funding from the private sector could be difficult in light of the cost of ensuring adequate security. And reviewed the proposed loan by members of the Organisation for Economic Cooperation and Development, Japan. The oil refineries in Iraq destroyed by the war led to a shortage of gasoline, despite having some of the largest reserves in the world, Iraq spent five billion dollars a year to import petroleum products.
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