Chinese and South Koreans are planning multibillion-dollar optimization and expansion of two major oil refineries in Iran, reports said on Saturday. South Koreans have undertaken to provide 1.9 billion euros for improving and optimizing facilities at Isfahan Oil Refinery, Shana quoted Alireza Arman Moghadam at the National Iranian Oil Refining and Distribution Company as saying.
The deal to expand the refinery was awarded to South Korea’s construction giant Daelim Industrial Company last December.
The project, due for completion in 48 months, is to add facilities for the production of high value-added products to the oil refinery. —Agencies