TEHRAN, Jan. 31 (Shana) – Managing director of the National Iranian Oil Engineering and Construction Company (NIOEC) said that a South Korean company has applied to take part in the development project of Isfahan Refinery.

“We are in negotiations with the refinery’s managers so that upon their approval, the project will start,” Hamid Sharif-Razi told Shana.
“Launching the RHV and RFCC units, worth 1.8 billion euros, will be self-financed,” he said.

By completion of the development project, Sharif-Razi added, production of mazut at the refinery will be drastically reduced.

By SHANA