Bandar Abbass Gasoline By October

The gasoline production project of Bandar Abbas Refinery which is one of the most profit making refinery projects underway in the country will become operational by end of September 2013.

Managing Director of National Iranian Oil Engineering and Construction Company Farhad Ahmadi said on Saturday that the project is 70 percent complete, Mehr News Agency reported.

He added that it is the first gasoline production project of the country which has been implemented by Iranian experts and technicians, adding that a failure to provide the required financial resources has led to a delay in inauguration of the project.

The official said €800 million have been invested in gasoline production project of Bandar Abbas Refinery.

Presently 10 development and optimization projects are underway in the country’s refineries which aimed at producing 40 million liters of gasoline and 18 million liters of diesel annually.

Some $13.5 billion of investment is required for implementation of the projects. Once the projects become operational, ground will be provided for supplying Euro 5 gasoline and diesel to the vehicles across the country.

Iran has shown an eye-catching performance in boosting gasoline production and harnessing domestic consumption since the government introduced the National Subsidy Reforms Plan, officials said.

Gasoline production capacity stood at 43 million liters per day at the end of the Iranian year to March 2011, while it will hit 70 million liters per day at the end of the current year (started March 20).

Iran Daily