3 January 2015 - 17:04
  • News ID: 232040
China to Fund Iran Refinery Development

TEHRAN Jan 03 (Shana)--China is to finance the development of Iran's oldest oil refinery in the southwestern city of Abadan, managing-director of National Iranian Oil Refining and Distribution Company said.

Abbas Kazemi said a detailed designing project for the refinery is currently under way, adding that construction will start after these studies are concluded.

He said that a group of Iranian engineers are following up on the project in China.

The refinery is to undergo development for producing euro-5 gasoline, supplying less fuel oil as well as renovating decrepit facilities.

The project is estimated to cost 2.6 billion euros. 

News ID 232040

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