/ARMENPRESS/ Negotiations over the construction of oil refinery in Armenia have already been completed and soon a financial contract over it is intended to be signed, Armenian Energy and Natural Resources Minister Armen Movsisyan told today. According to him, from the next year, after weather becomes warm the field works will kick off.

The minister said that the Russian side expressed wish to have 5-10% participation in the program via "ArmRusGasProm" company. Till now the Russian participation was not clear yet.

According to initial assessments, for the construction of oil refinery in Armenia by the Armenian-Russian-Iranan cooperation 5 years and 2,5-3 billion USD investments will be needed. It is expected to give 7,5 million tons of production annually.

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