The Japan International Cooperation Agency (JICA) signed a Loan Agreement (L/A) with the Government of the Republic of Iraq for the “Basrah Refinery Improvement Project (Phase VI)” in Baghdad, the capital of the Republic of Iraq, on November 17.
Signing Ceremony
A summary of the business is as follows
Project Summary
Project Name
Basra Refinery Improvement Project (Phase VI)
Basrah Refinery Upgrading Project (VI)
Country (Region)
Republic of Iraq
(Basra City, Basra Province)
Business Objectives
The project aims to improve the quality of petroleum products, narrow the gap between supply and demand, reduce environmental impact, and transfer related technologies through improving productivity at the existing Basrah Refinery in Basrah Province, southern Iraq, by constructing a new FCC complex including a fluid catalytic cracking (FCC) unit that will enable production of high quality petroleum products. The project aims to contribute to the economic and social reconstruction of Iraq.
Business
(a) Establishment of a new FCC complex
(b) Consulting services (construction supervision, etc.)
Loan amount (maximum)
60,040 million yen
Interest Rates
Body: 0.2% Consulting and services: 0.01
Redemption period
40 years (including 10 years of deferment)
Procurement Conditions
Japan Tide
Implementing Agency
Ministry of Oil
Contribution to the achievement of the SDGs
Goal 7 (Energy for All and Clean)
Goal 9 (Create a foundation for industry and innovation)
Schedule for future project implementation (tentative)
Scheduled completion of the project: December 2025 (the project will be completed when commercial operation starts)
- expected date of sending invitation for consulting services (detailed design, etc.): contracted
-
public announcement of the first package of international competitive bids for the main body of work: procured
Name of procurement package: EPC Contract Package (EPC Contract Package)
＜STEP>
The yen loan is subject to Japan’s STEP (Note), and the FCC complex to be developed under the project is expected to utilize Japan’s excellent engineering and service know-how.
(Note) Abbreviation for Special Terms for Economic Partnership. Terms and conditions for the provision of yen loans established to promote Japan’s “face-to-face assistance” through the transfer of technology to developing countries utilizing Japan’s superior technology and know-how. The main contractor is Japan Tide and the subcontractor is General Untied. The main contractor must be either a Japanese company, a subsidiary of a Japanese company located overseas, or a joint venture (JV; the Japanese company is the lead partner) between a Japanese company and the borrowing country. Under certain conditions, a JV between a Japanese company and an equity-method affiliate of the Japanese company (with the Japanese company as the lead partner) may also be the lead contractor.
© Source JICA
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