Iran and Japan signs MoU on improving the quality of gasoline, increase output
The MoU will be launched in 2019; it will take 4 years to complete and at a total expense of 2.8 billion dollars.
Managing Director of Tehran Oil Refining Company Lotfollah Hangi has announced that Iran and Japan have signed a contract to improve the quality of domestically-produced gasoline in a bid to increase the commodity's output by nearly one fourth.
Production of gasoline at Tehran Oil Refining Company is about to increase by 24 percent, with an implementation of the first phase of the agreement with Japan’s JGC Corporation and Marubeni Corporation.
The MoU aims at omitting benzene in the production of quality gasoline in conformity with the Euro 5 standards.
The senior official of Hangi said that the MoU will be launched in 2019; it will take 4 years to complete and at a total expense of 2.8 billion dollars.
He underlined that MoU signed between Iran and Japan aims at improving the quality and quantity of produced gasoline and reduce the use of oil.
JGC Corporation, formerly Japan Gasoline Co., is a global engineering company headquartered in Yokohama, Japan. The company was founded on 25 October 1928. In 1976, it changed its original name from Japan Gasoline Co. to JGC Corp.
And Marubeni is a major Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of sectors.