IOC plans $9 bln refinery JV in Egypt - paper

MUMBAI (Reuters) - India's top state-run refiner, Indian Oil Corp, will partner Egyptian General Petroleum Corp 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.

However, citing unnamed Egyptian officials, the paper said the complex would be built near Gamasa or Port Said at a cost of $9 billion.

A spokeswoman for Indian Oil said she could not immediately comment on the report.