Jul 22, 2014, 1:16 PM
News Code: 2722024
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NDF to be tapped for Siraf Refining Park

Tehran, July 22, IRNA - Iran’s National Development Fund (NDF) will be tapped for the construction of the “Siraf Refining Park” which involves eight gas condensate refineries each with 60,000-barrel capacity.

But the major financing of the projects will be provided by the private sector, SHANA reported on Tuesday.

Iran’s Petroleum Ministry plans to commission the project along with utility facilities, logistics, and processing units in Pars Special Economic Zone to private sector investors that will be put on tender in the Iran stock exchange.

This project, which is designed for preventing crude oil and generating value-added, is in line with the guidelines of Supreme Leader Ayatollah Ali Khamenei about the Economy of Resistance and Article 44 of the Constitution.

According to the project, Pars Special Economic Energy Zone (PSEEZ) will allot some 250 ha of land (30 ha for each NGL refinery) in Assaluyeh’s Site II to private investors under a 20-year contract. After the deadline, the contract could be renewed pending agreement of PSEEZ Organization.

However, Petroleum Ministry shall assume no responsibility concerning financing the construction of NGL refinery projects for the short-listed investors.

**1425