Iran to build condensate refinery using own resources for the first time

Business Materials 19 April 2012 18:04 (UTC +04:00)

Azerbaijan, Baku, April 19 / Trend S.Isayev, T. Jafarov/

Iran for the first time will be building an oil refinery "Pars", using only its own resouces, managing director of the National Iranian Oil Engineering and Construction Company, Farhad Ahmadi said, ISNA reported.

Ahmadi noted that the condensate refinery will be built in Shiraz city of Iran, and the project will be financed by the government sector.

Earlier, the project went into development under the private sector financing, however due to arrised financial issues, the construction was stopped.

Ahmadi said that the company already got a permit for construction, and once built, the refinery will be getting condensates from the Asaluyeh field.

The total investment into the construction has been estimated at 1,3 bln Euros.