The deal was endorsed by the National Iranian Oil Refining and Distribution Company (NIORDC).

Jafar Tofiqi, head of RIPI, told the ceremony held to sign the contract on Wednesday that catalyst production was a strategic measure for oil, gas and petrochemicals industries and saved the country huge amounts annually.

He said state-of-the-art technologies were required for production of catalysts, adding fortunately RIPI had been able to develop the technical savvy needed for various kinds of catalysts in recent years.

The deal was primarily aimed at commercialization of RCD and hyedrocracking catalysts by Iran Exir Novin Farayand Asia Company, a private-run company.

He said 1,500 tons of RCD catalysts were consumed by Arak Refinery.