Abadan contract to be signed next month.

摘要

The Managing Director of the National Iranian Oil Refining and Distribution Co. (NIORDC) Abbas Kazzemi said the company plans to sign a contract with Sinopec related to the expansion and optimization of the Abadan refinery in southern Iran next month. Earlier in Jan. NIORDC had secured a first line of credit (LoC) worth $1.3B from several Chinese firms including China Export & Credit Insurance Corp. (commonly known as Sinosure) to finance the Abadan project. The entire project is expected to cost $3B, with Chinese firms supplying 85% of the capital and Iran the remaining 15%.