Azerbaijan, Baku, August 28/Trend/
IRGC's Khatam al-Anbya Construction Headquarters joined the Persian Gulf Star Refinery project, Pananews reported quoting Deputy Oil Minister Alireza Zeyghami as saying.
"Khatam al-Anbya Construction Headquarters will accelerate the construction of Persian Gulf Star Refinery," he said.
He noted currently $1.5 billion have been invested in the project however it requires another $1.5 billion to complete first phase of gas condensates refinery.
The National Iranian Oil Company owns 40 percent of the project the rest of shares sold to domestic and foreign investors, he added.
It's expected Persian Gulf Star Refinery produces 35 million liters gasoline, 14 million liters of Diesel and 4 million liters of LPG.
Iran possesses the world's second largest reserves of gas and third in oil reserves is facing US sanctions over its nuclear program.
Most of foreign giant oil and gas companies have halted their activities in Iran because of international sanctions imposed by UN Security Council and the West countries against Iran however Iranian Revolutionary Guard Corps become more active in country's oil project.
Iran's oil minister Roustam Ghasemi previously served as Iranian Revolutionary Guard Corps Brig Gen and commander of Khatam al-Anbya Construction Headquarters