Lragir, Armenia
Oct 19 2007

OIL REFINERY COSTS 1.7 BILLION DOLLARS

The technical feasibility and economic justification of the oil
refinery in Armenia will be offered in November 2007, said the
Armenian minister of energy Armen Movsisyan.

The refinery will be built in Meghri. Russia and Iran said likely to
participate in this project. The plant will refine up to 7 million
metric tons of oil annually and costs 1.7 billion dollars. Another
one billion dollars will be spent on transportation infrastructure.