TEHRAN � To be the biggest Iran-Indonesia joint oil investment, an $8.4 billion-worth oil refinery project will be established in a trilateral cooperation between Iran, Indonesia and China, Mehr news agency reported on Tuesday.


According to the report, Hassan Khosrojerdi, the head of Iran�s Petrochemical, Gas and Oil Exporters Union, said that all measures have been taken and the 300,000-barrel oil refinery will be constructed in Indonesia in about 4.5-5 years.

Iran and Indonesia will own 30 percent and 20 percent of the refinery�s shares, respectively, and the remaining will be owned by the Chinese side, the official said.

By Tehran Times