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Foreign Investors Ready for Mazut-Reduction Projects with Iran Refiners.

TEHRAN (FNA)- Managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) said Japanese and South Korean companies are interested in taking part in the projects for reducing of mazut production at Iranian refineries.

"Their investments will be reimbursed by the sale of products," Abbas Kazemi said at the ceremony to officially launch the third unit in the petrol complex of Isfahan Refinery.

"With introduction of new energies, there will be no market for mazut," he added, "Government has laid down that refineries have to reduce the mazut output by 2 percent a year."

In January, Managing director of the National Iranian Oil Engineering and Construction Company (NIOEC) said that a South Korean company has applied to take part in the development project of Isfahan Refinery.

"Launching the RHV and RFCC units worth 1.8 billion euros will be self-financed," Hamid Sharif-Razi told Shana.

By completion of the development project, he added, production of mazut at the refinery will be drastically reduced.

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Publication:FARS News Agency
Date:Feb 3, 2016
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