ABU DHABI [MENL] -- China, France and Russia have sought oil refinery projects in Syria.

Syrian Deputy Prime Minister Abdullah Dardari told a news conference on Nov. 9 that firms from China, France and Russia were bidding to construct oil refineries worth $4.4 billion to process crude oil from Iraq. Dardari, responsible for Syria's economy, said France's Total would submit a formal offer to construct an $800 million refinery with a production capacity of 70,000 barrels per day.

"There is no reason why Syria shouldn't refine crude oil that's imported from Iraq," Dardari said along the sidelines of the Arab Business Conference in Manama.

Dardari said Syria has signed a memorandum of understanding with China for the construction of another oil refinery with a capacity of 140,000 barrels per day and worth $1.2 billion.