Monday, June 23, 2008

Despite sharp increase in construction costs, Ipic to go ahead with 3 planned refineries

As part of its intensified investment drive in refining and petrochemicals International Petroleum Investment Company (Ipic) plans to go ahead with construction of a major grassroots refinery in Fujaairah and two other in Morocco and Pakistan, depite a sharp rise in capital requirement because of high construction costs.

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