Iran has inked the contract to build a refinery-petrochemical complex in Malaysia, it reported this week, as part of an agreement that will also see the South Pacific country invest in Iran’s gas fields.
The refinery-petrochemical complex, which will manufacture gas-oil, gasoline, jet fuel, LNG, and petrochemical raw materials, is to be constructed in the Malaysian state of Terengganu over a period of six years.
The facility will reportedly cost more than $6bn.
Malaysia, on the other hand, will invest $5-6bn in Iran’s gas fields – according to the cooperation Memorandum of Understanding’s (MoU) that the two sides reportedly signed in Tehran this week.
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