Instead of the Egypt agreement, Muhammad Tawfiq Allawi submits a proposal to Kazemi that generates $ 18 billion annually
Instead of the Egypt agreement, Muhammad Tawfiq Allawi submits a proposal to Kazemi that generates $ 18 billion annually
2020-11-07
The former Minister of Communications and the former in charge of the position of Prime Minister Muhammad Tawfiq Allawi presented on Saturday a proposal to the Iraqi Prime Minister Mustafa Al-Kazemi for joint cooperation between Iraq and the countries of the region, explaining that this is a project that achieves annual profits for Iraq estimated at around $ 18 billion and without any amount from the Iraqi budget. .
Allawi said in a statement today, “He suggested to Al-Kazemi this proposal instead of the agreement he concluded with Egypt (oil for reconstruction), the details of which are unknown, but I do not think that many of its paragraphs are useful to Iraq, according to what filtered in the media.”
He added, “This project is to extend an oil pipeline from Iraq from Basra or Nasiriyah to the port of Aqaba with a capacity of 500 thousand barrels per day, then extend it under the narrow branch of the Red Sea to Egypt with a capacity of 400 thousand barrels per day and deliver the pipeline to an oil refinery with a capacity of 400 thousand barrels per day. On the Mediterranean coast, as well as the establishment of a refinery with a capacity of 100,000 barrels per day in Aqaba.
He added, “The total cost of this project, from the oil pipelines to the refineries in Jordan and Egypt, ranges from $ 15 billion to $ 18 billion. The refinery in Egypt bears half of its cost and Iraq bears half the cost, as well as the refinery in Jordan. Iraq bears half of its cost and Jordan bears half the cost.” .
Allawi went on, “As for the oil pipeline, an agreement is made between the three parties to bear the cost at rates agreed upon, but none of the three countries pays any cash for this project. Rather, it is financed by international banks based on the (LIBOR) scale, which does not reach 1%. On today’s scale. ”
He also said that “the total income of Iraq from this project amounts to about $ 18 billion annually, and the total profit for Egypt is about $ 8 billion annually, and the total profit for Jordan is about two billion dollars, provided that Egypt and Jordan buy what meets their needs for internal consumption from these refineries.” The surplus is then exported to Mediterranean ports from Egypt and African ports from Jordan; whereas if Iraq wanted to export the same amount of crude oil, its price, calculated today, does not exceed $ 8 billion annually.
Allawi continued by saying that “such a project achieves mutual interests between these three countries and for the benefit of all of them, and I approach Al-Kazemi with understanding with the Egyptian government and the Jordanian government and negotiate with international financial institutions to establish this project that brings many and reciprocal benefits between these three countries instead of an oil agreement in return.” Ages. ”
On October 31, the Iraqi government signed fifteen memoranda of understanding and a program of cooperation with its Egyptian theory in the fields of transportation, water resources, health, environment, justice, investment, housing, reconstruction, industry, trade and finance.
burathanews.com
