04 June 2012 02:26 [Source: ICIS news]
HOUSTON (ICIS)--Chevron Phillips Chemical signed a letter of intent to study the feasibility of building a petrochemical complex in Iraq, the US-based company said on Sunday.
The company, headquartered The Woodlands, Texas, “signed a non-binding Letter of Intent with the Republic of Iraq's Ministry of Industry and Minerals to jointly evaluate the feasibility of developing an integrated petrochemical complex in Iraq,” said Chevron Phillips spokesperson Melanie Samuelson.
The company would not disclose additional details.
“It is not our standard practice, however, to comment publicly on specific development discussions,” Samuelson added.
Bloomberg quoted the Iraqi ministry as saying the company would also examine the feasibility of upgrading an existing Iraqi-owned petrochemical facility in southern Basra province.
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