Thursday, December 13, 2007

India to build $9bn refinery in Egypt


India's top state-run refiner, Indian Oil Corporation, will partner Egyptian General Petroleum Corporation to jointly build a $9 billion refinery and petrochemical complex in Egypt, the Economic Times newspaper said on Monday. "We have agreed to work out details of the project," the newspaper quoted Indian Oil's director for planning and business development, B.M. Bansal, as saying. Talks on the size of the refinery, its cost or the location are yet to be finalised, he said....MORE