Iran to build USD 2.4 bln gas complex

Iran is planning to build the largest gas complex in the Middle East, director for planning at the National Iranian Oil Refining & Distribution Company (NIORDC) said.

According to the report of the public relations of the NIORDC, Shahabeddin Metaji said that the megaproject involves the construction of eight gas condensate refineries along with some utility facilities as well as logistics and processing units at Siraf Refining Park in Bushehr Province in southern Iran.

“The products of these refineries will include liquefied gas, naphtha, jet fuel and diesel fuel in compliance with the European Union’s Euro-4 and Euro-5 [emission] standards,” he added.

Metaji said Iran is in talks with the private sector as well as foreign companies to finance the project which is estimated to cost $2.4 billion.

He stated that the project, which is scheduled to start in three months, will be completed in four years.

Press Release, August 12, 2014