Asian companies willing to invest in Iranian refineries

Iranian Deputy Oil Minister Mansour Moazzami stated that several investors from China and South Korea have voiced their willingness to invest in refineries in Iran's Siraf region in Pars Special Economic and Energy Zone (PSEEZ).
"Foreign investors face no restriction for investment and Chinese and South Korean companies have shown interest to partner in our refinery projects," Moazzami said, addressing a meeting held to study proposals of 54 private sector investors for partnership in the construction of 8 refineries.
The deputy minister did not explain much about the projects, but said the feedstock of the refineries will be supplied from South Pars gas condensates.
Last week, Moazzami said that an expert team would examine the qualifications of the 50 companies that have applied for building gas condensate refineries in Siraf region South of the country.
Moazzami, who is the Deputy Oil Minister for Planning and Supervision on Hydrocarbon Resources, said 50 companies, some of them in the form of a consortium, have requested to take part in building eight gas condensate refineries in Siraf.
He noted that an expert group has been set up to examine the technical, financial and managerial capabilities of the companies that would choose 8 companies up to early October for implementation of the project.
Comprehensive Refining Project of Siraf includes eight 60,000-barrel refineries which are going to be built in PEEEZ by private sector.
The refineries will be built in an area covering 250 hectares of land which PEEEZ will rent to private operators for 20 years which can be extended.