TEHRAN, Sept. 26 (Xinhua) -- Iran announced Tuesday that it plans to construct an oil refinery in Syria's western city of Homs, Press TV reported.
The project would have an initial processing capacity of 40,000 barrels per day (bpd) that would increase to 140,000 bpd once fully developed, Mansour Bazmi, the acting chief of Iran's Research Institute of Petroleum Industry (RIPI), said.
The refinery would be constructed by a consortium that would comprise companies from Iran, Syria and Venezuela, Bazmi was quoted as saying.
The Iranian companies would design different units of the project and provide its required parts and equipment, he said.
This would be the first time that Iranian companies would be involved in a refinery project from the beginning to the end, he added.
The main products of the refinery would be gasoline and gas oil, he said, adding that the required fund, one billion U.S. dollar investment, would be provided from international financial institutions.
