B4U India: IOC plans $9 bln refinery JV in Egypt - paper

IOC plans $9 bln refinery JV in Egypt - paper
================================================================================
ANI India on 10 December, 2007 08:37:00
 
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.