Private sector to contribute up to 80 % to building of refinery in Iran

Nov 03, 2008 01:00 AM

On the basis of an approval by the Islamic Consultative Assembly [the Majlis], the private sector will contribute up to 80 % of the building of a refinery in Khuzestan.
The contractor of the refinery in Khuzestan said that $ 3.5 bn will be invested in the building of the refinery. He said over $ 2.8 bn of the investment will come from the private sector.

Zali [the contractor of the refinery] said the priority for the building of the refinery would be given to foreign investors because they bring foreign currency to the country, and added: The refinery, with the capacity of 180,000 bpd, will be constructed and fed with very heavy crude oil from Azadegan and Yadavaran oilfields.
He said the refinery was being built to refine ultra-heavy oil and produce petrol, jet fuel and diesel oil, and added: The refinery would be built in an area of 500 ha in three years.

Source / BBC Monitoring Middle East
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