Construction of the facility was financed with $100 million of foreign investment and it was put into operation officially by Iranian Minister of Petroleum Javad Owji in the southern city of Assalouyeh on Monday.

The project, which was implemented by Petrosanat Iranian Company, aims to generate $1 billion annually, and created 150 direct jobs.

After receiving the agreement in principle, storage tanks will be created in the target countries for this project.