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Iran to build Senegal oil refinery

Teheran, August 3, 2007

Iran will build an oil refinery and petrochemicals plant in Senegal and speed up plans to construct a car factory there, the West African country's government said in a statement published on Friday.

The statement followed a cabinet meeting late on Thursday in which Senegalese President Abdoulaye Wade briefed ministers on talks last week with visiting Iranian officials.

"The head of state, on this occasion, highly appreciated the decision taken by the Iranian authorities to implement the agreements signed with our country which are, among others, speeding up the building of a car assembly plant -- Iran Khodro -- (and) the construction of a petrochemicals factory and refinery in Senegal," the statement said.

It gave no further details of the plans.

In November, Senegal said Iran Khodro, the Middle East's biggest car maker, would start building its Samand model cars within 16 months at a new $80 million assembly plant in Senegal.

The car plant, SenIran Auto, was to be 60 percent owned by Iran Khodro, 20 percent by the Senegalese government and 20 percent by Senegalese private investors, it said at the time.

Senegal, a former French colony on the westernmost tip of Africa, has increasingly courted Islamic and Middle Eastern infrastructure investment as it prepares to host a summit of the Organisation of the Islamic Conference next year.

Senegal has no known oil reserves, but has a state-owned refinery and its reputation as one of the most stable countries in volatile West Africa has helped it become a hub for foreign investment in the region.- Reuters   




Tags: petrochemical | Iran | Refinery | Senegal |

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