The Iranian government has allocated US$2.7bn to establish the Persian Gulf Star gas condensates refinery in the southern Hormozgan province, according to an Islamic Republic News Agency (IRNA) report
The refinery, to be completed by 21 September 2013, is expected to be the largest gas condensates refinery in the world, government sources said.
According to Ebrahim Azizi, governor general of Hormozgan province, the refinery is 65 per cent complete and that once it starts production, it would add 27.6mn litres to the country's daily gasoline output.
Alireza Zeighami, Iran's deputy oil minister, had earlier said that seven oil refining projects were underway in Iran, with the goal of boosting gasoline production capacity to 110mn litres per day.
The projects included Arak, Lavan, Tabriz, Esfahan, Bandar Abbas, Tehran, and Persian Gulf Star refineries.
