The National Iranian Oil Refining and Distribution Company (NIORDC) is to sign a cooperation deal with China SINOPEC for completion of phase I of Abadan Refinery's output enhancement and stabilization project in February 18 2017.
NIORDC Managing Director Abbas Kazemi said his company has recently signed a deal with the Chinese company for completion of the refinery's first development project.
Addressing reporters on Tuesday, Kazemi said the deal will be signed in February in the presence of Chairman of China Petrochemical Corporation (Sinopec Group) Wang Yupu.
The official also said that the letters of credit (LCs) for construction of the project have been secured.