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Japanese, Korean Firms to Fund Refineries in Southern Iran

PressTV, July 17, 2017

A consortium of South Korean and Japanese companies has signed agreements to fund and implement a chain of condensate refining projects in southern Iran – a project known as the Octopus of the Persian Gulf. The agreements were signed between South Korea’s Daelim and Hyundai as well as Japan’s Chioda – all partners in the project to construct Siraf refineries in Iran’s southern province of Bushehr. The project could increase Iran’s refining capacity by 22 percent and would also increase its production of petrochemicals by 57 percent.

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