Special to WorldTribune.com
LONDON — Iran and Indonesia have reached agreement to build an oil refinery.
Industry sources said Iran would construct the refinery in Indonesia in a project headed by PT Kreasindo Resources Indonesia and the Teheran-based Nakhle Barani Pardis.
The sources said Indonesia would own 70 percent of the refinery, designed for a capacity of 300,000 barrels per day.
The sources said this would mark one of Iran’s largest energy project abroad.
The sources said the refinery would cost $3 billion and contain an initial capacity of 150,000 barrels per day.
Under the memorandum of understanding, signed on Feb. 11, Nakhle would
be responsible for supplies as well as retain a 30 percent interest. They
said the MoU would explore the feasibility of building the refinery in
either of two Indonesian provinces.
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