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Shell has signed an agreement with the Iraqi government to build a petrochemical plant in Iraq. Shell declines to give further details about the project. But published reports, quoting Iraqi Industry Minister Nasser al-Esawi, say the complex, to be built near Basra, would cost $11 billion and have annual petrochemical capacity of 1.8 million metric tons. Although it is oil rich, Iraq has a small petrochemical industry because of wars and United Nations sanctions. Shell recently dropped plans to build an ethylene cracker and ethylene glycol complex in Qatar.
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