Iran to invest $4.2 billion in oil refining and distribution sector
Azerbaijan, Baku, Aug.25/ Trend F.Milad/
Iran will invest some 52 trillion rials (around $4.2 billion) in oil refining and distribution sector by August 2013, managing director of the National Iranian Oil Refining and Distribution Company Alireza Zeighami said.
Totally, 75 trillion rials (some $6.1 billion) is planned to be invested by the end of the fifth five-year development plan (March 2016), Zeighami added, the Fars News Agency reported.
Zeighami said a package of investment, worth $47.5 billion, has been prepared to develop different sectors of the oil refining and distribution industry.
He also said the national oil pipeline network will be expanded to 5100 kilometers from 3700 kilometers by 2015.
Some $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official noted.
Iran's gasoline and gas oil production capacities are currently around 50 million liters and 100 million liters per day respectively.
Iran is now exporting gasoline and diesel fuel to neighboring countries.
Iraq, Armenia, Afghanistan, and Pakistan are now importing or have called for the importation of gasoline and diesel fuel from Iran.