Japan to Lend $1.2bn to Iraq for Port, Refinery
|June 14, 2013||Filled under Iraq Daily News|
Japan has offered a loans of about 120 billion yen ($1.24 billion) to Iraq to build a new refinery and rebuild a port.
Nikkei reports that Japan will initially lend 82.7 billion yen to build a refinery to extract natural gas liquids at the Rumaila oil field, while a second loan of 39.2 billion yen will be used to rebuild the port of Khor Al-Zubair.
Both loans will have a term of 40 years.
JGC Corp and Chiyoda Corp are expected to bid for the Rumaila refinery project, while Toyota Tsusho , Toyo Construction and Toa Corp are expected to bid for the Khor Al-Zubair rebuilding project, the newspaper said.
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