Iran to launch $1b refinery in Syria

SHANA — Iran’s Research Center of Petroleum Industry (RIPI) is to launch a refinery in Syria, a RIPI official said.

Addressing a press conference on the center’s latest activities and achievements, Deputy RIPI Head of Technology and International Relations Mansour Bazmi said the facility it to be developed with the technologies RIPI has developed.

He said the institute is to offer the technical savvy required for construction of the plant.

“The refinery will be launched once unrest is over in the Arab country,” he said, adding the maximum participation of Iranian companies has been ensured in the project.

Bazmi said an investment of a billion dollars will be made in the project, adding the refinery will be developed for production of gasoline, liquefied petroleum gas (LPG), gasoil, kerosene, fuel oil and bitumen.

The facility will be fed by light and heavy crude oil produced by Syrian oilfields.

He said RIPI is the Middle East’s biggest provided of technological services, adding the institute is the only research center which has so far generated millions of dollars by selling technologies services to foreign companies.

The center has also holds patents of 130 inventions, the official added.