Jakarta (ANTARA News/Asia Pulse) - Indonesia and Iran have agreed to build a US$5.6 billion oil refinery in Bojanegara, Banten. Construction of the plant, which will have a processing capacity of 300,000 barrels of crude oil per day, will start next year and is scheduled to be completed in 2012.
The Indonesian government will be represented by state oil and gas company PT Pertamina and the Iranian government by the Iranian Oil Refining and Distribution Company.
Officials from the two countries will meet in Teheran in August to discuss the project.
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