South Korea’s SK E&C signs US$1.88bn Iran oil refinery contract
10 August, 2017
A consortium of South Korea’s SK Engineering & Construction (SK E&C) and Iran’s Oil Design and Construction Company has signed a deal worth US$1.88bn (£1.45bn) to upgrade the Tabriz refinery in East Azerbaijan province, Iran.
Under the agreement the consortium will be responsible for the design, engineering, procurement and installation of equipment.
The upgrade work will enable the refinery to produce higher value fuels such as Euro-5 quality gasoline and diesel.
Financing for the project will come from the Export-Import Bank of Korea.
For more information, please visit EICDataStream.