Iran allocates $2.2b for gasoline projects

Business Materials 18 August 2010 12:46 (UTC +04:00)

Iran has allocated $2.2 billion for seven gasoline production and refinery renovation projects, the Iranian deputy oil minister Alireza Zeighami said here on Tuesday.

Currently the projects are 70 percent complete on the average, the Mehr News Agency quoted Zeighami as saying.

"Once the projects come on stream, 12 million liters of gasoline would be added to the country's production capacity and 70 percent of the nation's demand to the product will be met," Zeighami explained.

"Two billion dollars of the mentioned amount will be allocated to Tehran, Abadan, Esfahan, Tabriz, Bandar Abbas, Imam Khomeini and Lavan gasoline production refineries," he said, "The rest $200 million will be spent specially to speed up the completion of underway plans," he added.

Iran currently produces 44 million liters of gasoline per day.