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Chevron Phillips to invest $6bn in Basra

October 17/2011

(Iraq-BusinessNews) -- The American petrochemical producer Chevron Phillips Chemical is to invest $6 billion (7.2 trillion Iraqi dinars) to create a new facility in Basra. The Company has obtained a licence to operate in the city, and that Basra Investment Commission has also voiced its support for the project and is now seeking to allocate a plot of land. Once launched, the project is expected to provide up to one thousand jobs for local people.


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