Syria and Russia have signed an MOU to build an US$2.7 billion oil complex, consisting of an oil refinery and a petrochemical complex in the Syrian province Deir el-Zour.
As per the MOU, the refinery will be build by Credit Line of Russia, which will use imported crude oil or locally produced oil, if available. The Russian company will also be committed to building a petrochemical complex with an annual capacity of 1.6 million tons of naphtha. The project is slated for completion within a maximum time period of 5 years. Byproducts of the complex will be used for various products, such as home gas, polyethylene, polypropylene, gasoline and octane. The Syrian side will be committed to providing the land for the project as well as carrying out the infrastructure projects, including waters, electricity, roads and administrative facilities
02-Jan-06 
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