China to Finance Renovation of Iran’s Old Refinery
ILNA: An Iranian official unveiled plans for a major development project at the country’s Abadan Refinery by tapping financial sources provided by Chinese credit line.
Managing Director of National Iranian Oil Refining and Distribution Company(NIORDC) Abbas Kazemi said efforts are underway to secure a credit line from China to fund renovation of Iran’s oldest oil refinery.
Known as the biggest and oldest refinery in Iran, the Abadan Refinery came into service in ۱۹۱۲. It was seriously damaged during ۸ years of the Iraqi imposed war on Iran in the ۱۹۸۰s.
With a capacity of ۴۰۰,۰۰۰ barrels per day, the Abadan Refinery now produces different products such as liquefied gas, gasoline, fuel oil, engine oil, bitumen and so on, according to the plant’s website.
Although NIORDC was formed in the ۱۹۹۰s, the company has actually inherited ۹۰ years of Iran’s oil industries’ experiences in the fields of refining, transfer and distribution of oil products, as well as engineering and construction of installations of oil industries.