Noor Financial Investment will conduct study on building 140,000 bpd refinery.
The Syrian government signed an agreement on Monday with a Kuwaiti group to conduct a study on building a 140,000 barrels per day refinery in eastern Syria, the official news agency said.
Noor Financial Investment, a division of National Industries Group, will carry out the study for the $1.5 billion project over the next nine months, the agency said.
The government has been planning for years to invite foreign investors to build several refineries to tackle a shortage of refined products, but nothing has been built.
Syria produces 400,000 bpd of crude oil. Its two refineries in Homs and Banias have a capacity of 240,000 bpd.