RoydadNaft –  The Iraqi Minister of Industry and Minerals, Khalid Battal al-Najm, and officials from Saudi Arabia’s Ajyal Group discussed on last Tuesday a possible deal to construct a petrochemical complex in Iraq.

During their meeting in the Iraqi capital, Baghdad, the two sides discussed the details of the project, which is expected to be based in the southern Iraqi province of Basra, according to a statement cited by the National Iraqi News Agency (NINA).

According to al-Najm, the initiative is part of the ministry’s objective to build strategic industries in Iraq to diversify revenue streams.

The Iraqi Prime Minister, Mohammed Shia al-Sudani, reaffirmed earlier that Iraq is moving to increase its petrochemical projects.