Expats to help build refineries in Iran
Iran's Deputy Oil Minister Alireza Zeighami says Iranian expatriates can invest in development of oil refining and distribution industries in the country.
The official said Friday that Pars condensate refinery of Shiraz is one of the most important candidates for building the countrys first national refinery, Mehr News Agency reported.
The official added that USD 47.5 billion has been allocated for the development of various sectors of Iran's oil refining and distribution industry, including construction of refineries, oil and products transfer pipelines, oil storage facilities, and new oil tanks.
Total length of [oil transfer] pipelines should increase from [the existing figure of] 3,700 kilometers (km) to 5,100 km by the end of the Fifth Economic Development Plan (2015) and to 6,500 km by the end of the 20-Year Perspective Plan (2025), he stated.
Zeighami further said about USD 25 billion dollars should be invested in developing new oil refining capacity with priority given to Pars condensate refinery in Shiraz, Persian Gulf Star refinery, Anahita refinery in Kermanshah, Shahriyar refinery in Tabriz, and Hormoz refinery in Bandar Abbas.
Pointing to Iran's plan to invest about USD 7 billion in developing oil refineries of Isfahan and Abadan, the official said Iranian expatriate can invest as much as they can in various projects related to Iran's oil refining and distribution industries.
The deputy oil minister stated that USD 2 billion should be invested in developing storage capacity for oil products in Iran by 2015 and about USD 3 billion should be invested in building necessary pipelines.
Zeighami concluded by saying that about 70 percent of the process of building oil refineries has been indigenized by Iranian contractors and manufacturers and the figure can be increased up to 90 percent by the end of the Fifth Economic Development Plan.
SS/HGH
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Expats to help build refineries in Iran
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