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South Korea’s SK E&C Contract To Modernize Tabriz Oil Refinery

South Korea’s SK Engineering & Building mentioned on Sunday it had signed a deal with Iran’s Tabriz Oil Refining Company value $1.6 billion to renovate the Iranian firm’s refinery facility.

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SK E&C stated in a press release that the venture entails upgrading Tabriz Oil Refining Firm’s 110,000-barrels-per-day refinery, which opened in 1976 and is situated within the northwest of Tehran.

Under the settlement, a consortium of SK Engineering & Development and Iran’s Oil Design Construction Company would finance and implement the renovation venture to extend the refinery’s gasoline and diesel production capability, in line with the assertion.

The challenge is scheduled to be completed inside 36 months as soon as the consortium breaks ground on construction.

Supply SEOUL (Reuters)
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