Iran to seek investors for US$3b refinery

Dubai

IRAN will seek international investors for a US$3 billion refinery project in the country's south as the Persian Gulf nation looks to boost sales of its oil and natural gas products in Asia.

The refining complex on Iran's Persian Gulf coast will seek to raise as much as 80 per cent of the capital needed from international partners or financiers, Alireza Sadeghabadi, managing director of Siraf Refineries Infrastructure Co, said in Teheran. Siraf will issue a tender in two to three months to invite potential investors and partners, with companies and lenders in Japan and South Korea showing interest, he said.