The value of the contract has not been disclosed.
The contract has been secured from Albanian Refining & Marketing of Oil (ARMO) for the modernization of refineries which are located at Ballsh and Fier.
ARMO intends to modernize the existing refineries in a bid to restore production to the original design capacity and produce transportation fuels in line with current EU regulations.
The study is expected to be completed by mid-2012.
ARMO owns these two refineries which serve both the domestic and the Balkans’ regional markets.
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