Azerbaijan, Baku, Jul.3/ Trend F.Milad/
The managing director of the National Iranian Oil Engineering and Construction Company has said that construction of the first all-Iranian refinery will begin within the next two months.
Farhad Ahmadi told the IRNA News Agency that some €1.2 billion will be invested in the project.
The refinery will have the capacity to produce 120,000 barrels of gas condensates per day, he added.
Deputy oil minister Alireza Zeighami has said that about $25 billion dollars should be invested in developing new oil refining capacity with priority given to the Pars condensate refinery in Shiraz, Persian Gulf Star refinery, Anahita refinery in Kermanshah, Shahriyar refinery in Tabriz, and Hormoz refinery in Bandar Abbas.
About 70 per cent of the process of building oil refineries has been indigenised by Iranian contractors and manufacturers and the figure can be increased up to 90 per cent by 2015, he added.