FARS News Agency cited National Iranian Oil Refining and Distribution Company (NIORDC) managing director Abbas Kazzemi as saying that the nation is planning to invest 85% of the $2.6bn project costs.
"With the implementation of this project, the quality of products of Abadan refinery, which is the oldest refinery in the country, will be upgraded to Euro-5 grade," Kazzemi added.
By completing nine oil refineries development plans, the country is considering increasing its gasoline and gasoil production capacity by 64 and 12 million liters per day.
The nine projects include gasoline making units at Abadan, Tabriz, Isfahan, Bandar Abbas, Tehran (Shahid Tondgouyan), Imam Khomeini (Shazand) as well as development and modernization plans at Persian Gulf Star and Lavan oil refineries.
Production of kerosene and jet fuel will be produced each at the projects, upon completion, by 7.4 million liters and liquid petroleum gas by 7.4 million liters per day.
