IRAN TO BUILD NEW REFINERY AT ARAK

The National Iranian Oil Co. has announced that it let a contract in April 1989 for the construction of a grassroots, 150,000-b/d refinery to be sited some 200 miles southwest of Tehran near a pipeline at Arak, Iran, according to the Iranian Ministry of Petroleum. Startup of the refinery is scheduled for early 1993. The contract for the refinery was awarded to a joint venture comprising JGC Corp., Tokyo, and Tecnologie Progetti Lavori SpA (formerly Technipetrol SpA), Rome. The contract price

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