An estimated €2 billion in foreign investment has been made in Abadan Oil Refinery in the southern Khuzestan Province in the past two years, CEO of the National Iranian Oil Refining and Distribution Company said.
"China's Sinopec International Petroleum Exploration and Production Corporation has invested €2 billion in development projects in the refinery since 2017," Alireza Sadeqabadi was quoted as saying by IRNA.
Development plans in the key complex will be carried out in two phases and cost $3 billion, he said.
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