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Iran started building underground oil tanks

Business Materials 25 September 2012 09:36
Iran has started building strategic underground oil tanks with a capacity of storing up to 10 million barrels of oil, ISNA reported.
Iran started building underground oil tanks

Iran has started building strategic underground oil tanks with a capacity of storing up to 10 million barrels of oil, ISNA reported.

The project will cost $2.2 billion and has entered executive phase and will be implemented by the IRGC Khatam al-anbyia base.

The tanks will be located in southwest Iran about a 100 kilometers from the Persian Gulf.

Last month two oil storage tanks with the total capacity of 100,000 barrels were inaugurated at Shiraz refinery, located in the south of Iran.

In June, Iran reported that country's capacity to store crude oil will increase by 4 million barrels in the coming months.

Edited by: S. Isayev

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