the head of its downstream business told business daily Napi Gazdasag on Monday.

Ferenc Horvath, MOL's Executive Vice President for Downstream, said Japan's JSR Corporation would bring the technology for the plant.

MOL is also in talks with regional leaders in the Kurdistan region of Iraq on a framework agreement to buy crude from 2015, Horvath added. MOL, which has stakes in two blocks in Kurdistan, bought some Kurdish crude earlier this year.