Managing Director of the National Iranian
Oil Refining & Distribution Company (NIORDC) Alireza Sadighabadi said on Sunday
that the refinery must reach full productivity by March 2019 (end of the next Iranian
calendar year of 1397), adding the NDFI will be dipped into for financing the
The refinery is the only one in the world
that is fed by gas condensate and can supply 36 million liters of Euro-5
gasoline, he said.
He said the facility is expected to
process 75% of its throughput into value-added quality items which is unprecedented
in the refining industry.
Sadighadbadi said the Bandar Abbas Gas
Condensate and Oil refineries alone account for satisfying nearly 50% of Iran's
demand for gasoline.
The second phase of the project is being developed
to become a major source of income for the country, the NIORDC CEO added.
"Iran will earmark no budget for
gasoline imports next [calendar] year (which begins on March 21), which means
the project must come on-stream as soon as possible," he added.
The official further said that the
facility is expected to process 75% of its throughput into value-added quality
items which is unprecedented in the refining industry.