BAKU, Azerbaijan, August 1. As many as two memorandums of understanding were signed between Iran's Oil Ministry and several banks and companies to provide funds for the construction of two oil refineries with the overall capacity to refine 600,000 barrels of crude oil per day, on August 1, 2022, Trend reports citing Shana News Agency.
One of these memorandums was signed on the provision of funds needed for the construction of the "Morvarid Mokran" oil refinery in Jask County of Hormozgan Province (southern Iran), which has the capacity to refine 300,000 barrels of crude oil per day.
According to the memorandum, Mofid Economic Group, Iran’s Mellat, Tejarat and Parsian banks will invest $7 billion in the construction of this Morvarid Mokran oil refinery.
The other memorandum was signed on the provision of funds needed for the construction of ‘Shahid Ghasem Soleimani’ petrochemical refinery in Bandar Abbas County of Hormozgan Province, which has the capacity to refine 300,000 barrels of crude oil per day.
According to the memorandum, Bank Melli Iran, Bank Refah Kargaran, Iran’s Mellat and Tejarat banks, as well as Tadbir Energy Development Group, Persian Gulf Petrochemical Industries Company, Ahdaf Investment Company, National Iranian Oil Refining and Distribution Company will invest $11 billion in the construction of this plant.
Iranian President Ebrahim Raisi, Iranian Oil Minister Javad Owji and other officials attended the event held in connection with the signing of the memorandums.
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