2 November 2015 - 16:35
  • News ID: 249413
Iran Earmarks €650m from NDFI to Bankroll Refinery Project

TEHRAN Nov. 02 (Shana) – Iran has tapped the National Development Fund of Iran (NDFI) for €650 million to bankroll Persian Gulf Refinery project, manager of the refinery said.

Ahmad Adib said of the earmarked sum, €184m has so far been spent for completion of the project. 

"The establishment of Iran has put special focus on completion of the project and the Iranian Minister of Petroleum is making effort for its fulfillment," he said. 

The first phase of the refinery would have a capacity of 120,000 b/d of gas condensate.

The refinery is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%).

One fully operational, the refinery would produce 36 ml/d of high-octane gasoline and 14 ml/d of gasoil. Other products include 4 ml/d of liquefied petroleum gas (LPG), 3 ml/d of jet fuel and 130 tons a day of sulfur.
News ID 249413

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