Sinopec Inks $1.05b Refinery Upgrading Deal in Iran

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China’s Sinopec Engineering (Group) Co.. signed a deal with National Iranian Oil Engineering and Construction Company (NIOEC) to contribute to engineering. procurement and construction of phase II of Abadan refinery upgrading project in Iran.
`The group will pursue approximately 6.86 billion yuan ($1.05 billion) of the total contract value`. Nikkei Asian Review cited the company as stating on Wednesday.The amount will be recorded as backlog of the group.