TEHRAN – Iran and some renowned German, Chinese and South Korean companies are holding talks for constructing refineries in the Iranian city of Masjed Soleiman, southwestern Khuzestan province, Shana reported on Tuesday.

According to the report, Ali Seifian, a board member of M.I.S Petrochemical Industries Co., told Shana that signing a contract for financing and constructing a petro-refinery complex is among the discussed topics.

The contract will be signed with a consortium of South Korean companies.

“The project will need at least $1.5 billion of investment,” he added.

EF/MA