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Thursday, April 17, 2008 - 07.50GMT     Back
Iran to invest in oil refinery expansion project
Iran has decided to increase its investment in expansion project of an oil refinery in Sri Lanka up to one billion US dollars, Iran News Agency (IRNA) reported yesterday (April 16).

Quoting an interview by Minister A. H. M. Fowzi with Kyodo, IRNA office in Tokyo, said the one billion US dollar investment would cover 70% of the require investment for the refinery's expansion, in form of a ten year loan, with a five year exemption period from payment of the loan's installments.

Oil experts predict that Sri Lanka's oil refinery would increase its production after the Iranian oil engineers would end their work here within the next two to three years.






 
     
 
   
   

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