Indonesia, Iran firms sign MOU to build refinery

February 11, 2014 - 8:59:19 am

JAKARTA: Indonesia's Kreasindo Resources has signed an MOU with Iran's Nakhle Barani Pardis to build a refinery in the Southeast Asian country, worth at least $3 billion, Indonesian government officials said on Tuesday.

The two companies will conduct a feasibility study before deciding on whether to build the refinery, which will have a capacity of as much as 300,000 barrels per day.

Separately, Indonesia's state energy firm Pertamina was looking at investment opportunities in Iran, said Mahendra Siregar, chief of Indonesia's Investment Coordinating Board, at a joint Indonesia-Iran business event in Jakarta. (Reuters)