Wednesday, 18 August 2010

Iran to spend $2.2 billion on gas projects

Iranian deputy oil minister, Alireza Zeighami ,has said that the government has allocated $2.2 billion for seven gas production and refinery renovations. Presently, all seven projects are 70 per cent in the completion stage, and are expected to be finished in the near future.

“Once the projects come on stream, 12 million lt of gasoline would be added to the country's production capacity and 70 per cent of the nation's demand to the product will be met,” said Zeighami.

“Two billion dollars of the mentioned amount will be allocated to Tehran, Abadan, Esfahan, Tabriz, Bandar Abbas, Imam Khomeini and Lavan gasoline production refineries,” he said.

"The rest $200 million will be spent specially to speed up the completion of underway plans," added the deputy oil minister.

Source: Tehran Times

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