Iran and Brazil have agreed to build a refinery in Latin America

Almaty. May 12. Silkroadnews - Iran and Brazil have agreed to join efforts in construction of refinery in one of the countries of Latin America, transmits the Iranian News Agency (IrTAG) on Monday.
"A memorandum of understanding was signed between NIORDC and one of Brazil's leading oil and gas companies", - said Deputy Oil Minister and Managing Director of the National Company for refining and marketing of oil of Iran (NIORDC) Abbas Kazemi.
At the same time the name of a Brazilian company in which country will be built a new facility, was not mentioned.
"If a final agreement is reached between the two countries, they will start construction in Latin America the new plant design capacity will be 300 thousand barrels per day", - said A.Kazemi.
According to him, the signed document provides the use as a raw material  exclusively crude oil, and its construction is intended to "ensure the long-term demand for crude oil exported by Iran".
Iranian Deputy Oil Minister also said that currently negotiations are continuing with the Indian side on the joint construction of a refinery in India. After the completion, the new facility will be able to process up to 400 thousand barrels per day.
"It is expected that the refinery will be built in India in partnership between Iran and one of the Indian companies on the basis of equal equity sides", - he added.
However A.Kazemi stressed that the project is still under development and coordination, and no final decisions has been yet adopted.