JGC Corporation, a global engineering company headquartered in Japan, said it has secured a contract for the upgradation of a major refinery in the Iraqi port city of Basrah. The engineering, procurement, construction and commissioning contract worth Japanese yen 400 billion ($3.7 billion) was awarded to the JGC group by South Refineries Company, an Iraqi entity under the Ministry of Oil. The scope of work includes installation of fluid catalytic cracking unit with a 34,500 barrels-per-day capacity; vacuum distillation unit (55,000 bpd and diesel desulfurisation unit (40,000 bpd), thereby increasing production to 19,000 bpd of gasoline and 36,000 bpd of diesel fuel. The project is due for completion in 2025. Funding for the project will be procured through Japanese ODA loans from the Japan International Cooperation Agency (JICA), and is the largest-scale reconstruction ...read more...