TEHRAN, Iran, August 30. Iran attracted $100 million worth of foreign investment for the establishment of an LPG terminal and storage facilities, said Managing Director of the National Iranian Oil Company(NIOC) Mohsen Khojastemehr, Trend reports citing SHANA.
"NIOC aims to maximize the export of liquefied petroleum gas and has been supportive of the private sector in carrying out the LPG terminal construction," he said.
Khojastemehr said Petro Sanat Iranian Company has been selected the operator of this project.
The project is expected to generate $1 billion in revenues in its early years and create direct jobs for 150 people.
The foreign investment financed LPG storage and loading facilities and the export chain including logistics and ships to carry liquefied petroleum gas to destination countries.
The company is expected to build storage reservoirs in destination countries to accelerate the LPG export process.