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Iran plans to build oil refinery in Syria

Business Materials 26 September 2017 15:04 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Khalid Kazimov – Trend:

An Iranian official has said that his country in collaboration with Venezuela and Syria will build an oil refinery in the Arab country.

The head of Iran's Research Institute of Petroleum Industry (RIPI), Mansour Bazmi, has said that Iranian companies will design and provide the required equipment for the construction of various units in the refinery with a capacity for producing 140,000 barrels per day, IRNA news agency reported.

He added that the factory in the first phase is expected to process 70,000 barrels of oil on a daily basis which will increase to 140,000 barrels in future.

Saying that the refinery is expected to be constructed in Syria’s city of Homs, he added that the output of the plant will include gasoline and diesel as well as other oil products.

According to the official the construction of the refinery is expected to cost about $1 billion and the Iranian, Venezuelan and Syrian consortium seeks foreign investment in the project.

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