India's top state-run refiner, Indian Oil Corp (IOC) and Egyptian General Petroleum Corp. are to partner in a joint venture to build a US$9 bln refinery and petrochemical complex in Egypt. The size of the refinery, its cost or the location – these details have not yet been finalised. One of the possible locations of the complex could be near Gamasa or Port Said at an estimated investment of US$9 billion.
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