Baku, Azerbaijan, Aug.2
By Fatih Karimov - Trend:
Over $2.4 billion will be invested in the construction of a petrochemical complex in Iran.
Shahabeddin Mataji, director for planning at the National Iranian Oil Refining and Distribution Company (NIORDC), said negotiations are underway with foreign and private-sector investors, the Mehr news agency reported on August 2.
The complex will be comprised of eight gas condensate refining units, he said, adding that NIORDC will sign contracts with eligible applicants in October, and the units should be established over the course of 3-4 years.
IRNA news agency reported on June 25 that the Oil Ministry of Iran has called on the country's private sector to build eight small-scale gas condensate refineries at the South Pars Special Energy Zone.
The refineries each will have a capacity to refine 60,000 barrels of gas condensates per day.
On May 5, Iranian Deputy Oil Minister Abbas Kazemi said engineering and infrastructural works will be done by the National Iranian Oil Refining and Distribution Company and the rest will be done by the private sector, Iran's Shana news agency reported.
On April 8, Iranian Oil Minister Bijan Namdar Zanganeh said Iran plans to increase crude oil and gas condensate production capacity to 5.5 million barrels per day in four years.
Iran has exported on average 504,000 barrels of gas condensate per day since achieving an interim nuclear accord with the Sextet powers in November 2013.
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