Baku, Azerbaijan, Nov. 11
By Khalid Kazimov- Trend:
Iran's Oil Ministry has called upon investors to participate in the construction of the country's second largest oil terminal in the southern port city of Jask.
"In the first phase, and following the oil minister's order, we have invited investors to finance construction of the storage of 10 million barrels of crude oil, as well as building port facilities, for import and export purposes," Mehr news agency quoted National Iranian Oil Engineering Company (NIOEC) Director Aliasgar Sajedi as saying Nov 11.
He added that 5000 hectares of land to the east of port city of Jask have been allocated for the project.
Sajedi described the project as the Iranian government's most important oil priority in the Gulf and the Strait of Hormuz.
A 1,100 kilometer-long pipeline is expected to be laid to supply crude oil to Jask.
He further added that the project is aimed at shortening the route for tankers carrying Iranian oil.
In 2014, President Hassan Rouhani invited all Iranian and foreign investor to invest in Jask, noting that the Jask port will develop into an important marine and economic hub in the future.