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Iran to allocate $1 billion to construction of national gas refinery

Business Materials 18 December 2012 20:45 (UTC +04:00)
The coordinator of the National Iranian gas refinery project Mahmoud Khakpour has recently said that the project awaits for the allocation of $1 billion from the National Development Fund, to launch the project, IRIB news reported.
Iran to allocate $1 billion to construction of national gas refinery

Azerbaijan, Baku, Dec. 17 /Trend S.Isayev, T. Jafarov/

The coordinator of the National Iranian gas refinery project Mahmoud Khakpour has recently said that the project awaits for the allocation of $1 billion from the National Development Fund, to launch the project, IRIB news reported.

Speaking to the journalists at the press conference, Khakpour noted that after the project begins, only local equipment and construction materials would be used.

"It is natural that we will have to import some minor details, that are unwise to produce in Iran," Khakpour said. "However all major equipment and components are domestically made."

He added that in the future gas refinery projects in the country would not be allowed to obtain foreign licence for importing major construction components.

According to Khakpour, Iran's oil industry research center is the licence holder in the project, and provides necessary insurance for the project.

Khakpour noted that having Iran's oil industry research center as backup is a wise move, since if it was a foreign company, it would cost more, and also in case of incident, the foreign company would not accept responsibility.

The building of the National Gas Refinery is scheduled in Fars Province of Iran, near the Halgan and Sefid Baghun refineries.

Khakpour said that preliminary planning is already taking place, and the estimates for the project have already been counted, so now the project is awaiting for the allocation of funds.

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