TEHRAN (Dispatches) - Tehran and Beijing has signed a contract worth $3.6 billion for the latter's investment in Masjed Soleiman oil refinery in Southern Iran.
The agreement was signed between Managing Director of Masjed Soleiman Petrochemical Complex Yousef Davoudi and representative of Wuhan Company.
Iran has signed three MoUs Austrian, Dutch and Chinese companies at the presence of
Iranian Labor Minister Ali Rabiyee to develop Iran's industries.

Persian Gulf Star Refinery Exports 2nd Naphtha
Meanwhile, Persian Gulf Star Refinery exported its second naphtha consignment to Japan in late January 2017.
The first naphtha consignment of the facility was destined to the United Arab Emirates.
The second consignment, weighing 280,000 tons of the item, will arrive in Japan by the end of this week.
The refinery is Iran's first gas condensate refining facility.
After startup of major projects like Persian Gulf Star Refinery, Iran will be able to export gasoline.
The first phase of the refinery would have a capacity of 120,000 b/d of gas condensate.
The refinery is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%).
Once fully operational, the refinery would produce 36 ml/d of high-octane gasoline and 14 ml/d of gasoil. Other products include 4 ml/d of liquefied petroleum gas (LPG), 3 ml/d of jet fuel and 130 tons a day of sulfur.
After the project's first phase becomes fully operational, other phases will come online each after 6 months.