Baku, Azerbaijan, Jan. 26
By Umid Niayesh - Trend:
Iran's major under construction gasoline refinery project- Persian Gulf Star Refinery suffers liquidity deficit, Iranian Oil Minister Bijan Namdar Zanganeh said.
He added that the first phase of the project needs another 650 million euro to be completed, the oil ministry's official SHANA news agency reported Jan. 26.
He asked the administration to allocate the needed assets to the project from the National Development Fund (NDF).
Zanganeh made the remarks during the country's first vice president, Eshaq Jahangiri's visit to the refinery that is located in southern Hormozgan province.
Jahangiri said that the project is one of the administration's main projects, adding the government will resolve the problems related to funding 650 million euro as soon as possible.
Once the refinery comes on stream it will have capacity to refine 360,000 barrels of condensates per day.
It is expected to produce 36 million liters of gasoline and 14 million liters of diesel oil per day.
In addition, the refinery will produce 3.81 million liters of liquefied petroleum gas (LPG), 3.37 million liters of jet fuel and 130,000 metric tons of sulfur.
Construction operations of the refinery started in 2007. The refinery is being implemented in three 120,000-barrel phases and the first phase will be inaugurated in next Iranian fiscal year (to start March 21).
Edited by CN
Follow the author on Twitter: @UmidNiayesh