Azerbaijan, Baku, Nov. 29 / Trend /
During Iranian President Mahmoud Ahmedinejad's visit to the Mazandaran Province in Bushehr today, the North Oil Terminal's oil reservoirs will be commissioned and the Mazandaran Oil Refinery's foundation will be laid, the Mehr news agency quoted Bushehr Executive Power head Mohammad Reza Alborzi as saying today.
According to Alborzi, the reservoir construction costs run approximately $460 million. A total of $5 million will be spent on full commissioning.
He added that an oil refinery will be built in the Mazandaran Province. An area of 168 hectares has been allocated for construction. Over 2 billion euro will be invested in this project. The private sector will also be involved in investing in the construction.
According to the news agency, Ahmedinejad will visit Mazandaran today.