QR codeQR code

Iran, China to sign $3 billion contract to upgrade Iranian refining capacity - Mehr news agency

19 Jan 2017 - 16:42


Reuters- Iran and China will sign a $3 billion contract next month to upgrade Iran's oil refining capacity, according to Iran's Mehr News agency.

Iran�s deputy oil minister Abbas Kazemi said in Tehran on Tuesday that the deal will focus on upgrading the Abadan oil refinery, Mehr said.

�Last week, China officially opened the financing for the plan to fix and improve the quality of the Abadan refinery,� Mehr quoted Kazemi as saying.

Iran's refineries are in a state of disrepair after years of sanctions which prevented access to parts and new technology.

The deal is expected to be signed when a delegation of Chinese oil officials visit Tehran next month, Kazemi said, according to Mehr News.

(Reporting By Babak Dehghanpisheh; Editing by Susan Fenton)


Story Code: 247630

News Link :
https://www.theiranproject.com/en/news/247630/iran-china-to-sign-3-billion-contract-upgrade-iranian-refining-capacity-mehr-news-agency

The Iran Project
  https://www.theiranproject.com