Iran, China and Indonesia have agreed to build a refinery on the island of Java

Almaty. June 10. Silkroadnews - Iran, China and Indonesia by joint efforts will build a refinery on the Indonesian island of Java, transmits the Iranian News Agency (IrTAG) on Wednesday.
As the head of the Iranian Union of Petroleum Exporters Hassan Hosroudzherdi, the relevant authorities of the three countries has recently made a final decision, according to which in the eastern part of Java Island will be built a new refinery with capacity of 150 thousand barrels of oil per day. To this end, the parties began work on the establishment of a joint venture that will be the general contractor for the construction work.
According to the agreement, Iran is obliged to fully cover the needs of the future enterprises in the crude oil, as well as to provide partial funding for the project. The main part of the money - about 85% will come from China.
In addition, the head of the Union of Petroleum Exporters of Iran said that Iran, China and Indonesia in the near future also plan to begin the construction of five new plants for processing gas condensate in Indonesia. Responsibility for the implementation of these projects will be entrusted to the private sector of the three countries.
According Hosroudzherdi, the total value of all six projects is about $3.5 billion.