10 November 2014 - 13:21
  • News Code: 228454
Persian Gulf Holding to Acquire Refinery Project

TEHRAN Nov 10 (Shana)--A refinery project is to be ceded to Persian Gulf Holding Company by Sepehr Energy, a deputy head of National Iranian Gas Company said.

Abdol-Hossein Samari said Bidboland-2 project’s cession has already won the approval of Petroleum Ministry.

He said that ethane, a main product of Bidboland-2, is the main feedstock for Persian Gulf Holding-run petrochemical plants.

Samari said NIGC would have a 20-percent share and Persian Gulf Holding the remaining 80-percent share.

Sepehr Energy, affiliated with Bank Saderat, was awarded the project, but it failed to operate it.

News Code 228454

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