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Armenian oil refinery project to cost USD 2 billion

By M. Alkhazashvili
(Translated by Diana Dundua)
Monday, May 5
The construction of a new oil refinery in Armenia will cost USD 2 billion, according to Armenian Energy Minister Armen Movsesyan.

The refinery, which will be built in Megri, on the Iranian border, will process 7.5 million tons of oil annually, the news agency Regnum reports.

The project is being jointly undertaken by Armenia, Iran and Russia and will process Iranian oil.