According the report, the first phase of Persian Gulf Condensate Refinery, a major project that will render Iran needless of importing gasoline, will come on-stream by the end of the current Iranian calendar year to March 21.
In a ceremony to launch the distillation unit of the refinery, Iranian Minister of Petroleum Bijan Zangeneh said the project is a top-priority plan in Iran because it will add Iran to the list club of gasoline exporters.
Once operational, the phase will supply 12 million liters of Euro-4 gasoline, and 4.5 ml of gasoil per day.
"Inauguration of the project has been set as one of the Iranian Ministry of Petroleum's top priorities and its progress is being constantly checked by the ministry," he said.
The official further announced that the phase has so far made over 93% physical progresses.
The refinery is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%).
One fully operational, the refinery would produce 36 ml/d of high-octane gasoline and 14 ml/d of gasoil. Other products include 4 ml/d of liquefied petroleum gas (LPG), 3 ml/d of jet fuel and 130 tons a day of sulfur.
After the project's first phase becomes fully operational, other phases will come online each after 6 months.