Malaysia, Indonesia & Syria: refinery projects

The National Iranian Oil Refining and Distribution Co. (NIORDC) is taking part in joint projects to construct refineries in Malaysia, Indonesia, and Syria. NIORDC has made a 30% investment in the USD 4.8 billion project to construct the Kadah Refinery in northern Malaysia, which will have a capacity of 250,000bpd. The other 70% of the investment is being made by the Malaysian company SKSD. In a USD 6 billion project to construct a refinery in Java, which will have a capacity of 300,000bpd with the feedstock supplied by Iran, Indonesia’s Pertamina is covering 40% of the cost, NIORDC another 40%, and Malaysia’s Petrofield 20%. And in a USD 2.6 billion project to build a refinery near the city of Homs, Syria, which will be fed with extra heavy crude supplied by Iran, Syria, and Venezuela and will have a capacity of 140,000bpd, NIORDC is covering 26% of the cost, Venezuela’s PDVSA 33%, Malaysia’s Petrofield 26%, and Syria’s HRC 15%. All the projects are scheduled to come on stream by 2013.
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