Iran and China sign deal to refine gas condensates

Dec 29, 2004 01:00 AM

Iran and China have struck a deal to build a refinery for handling 360,000 bpd of gas condensates. According to the agreement, a refinery will be established in Qeshm Island or Bandar Abbas.
The project, supposed to come on-stream in three years, will be financed by China’s CITIC.

Nosrat Rahii, chairman of the Board of Directors for the State Pensions Fund, said the deal can be a good beginning for Tehran-Beijing cooperation.
Chinese Ambassador Liu Zhentang who was present at the function said his country was relying on Iran as a source of energy.

Source: Tehran Times
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