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2014-08-19 18:10:00

IRAN TO INVEST $ 2.5 BLN

IRAN TO INVEST $ 2.5 BLN

Iran is planning to invest $2.5 billion to build a new crude oil export terminal at Jask Port on the Sea of Oman, bypassing the strategic Strait of Hormuz, the only way in and out of the Persian Gulf, the managing director of the Iran Oil Terminals Company announced on Saturday.

Most of Iran's exports are funneled through the big terminal on Kharg Island in the northern Persian Gulf, then shipped southward in supertankers through the Strait of Hormuz, the Mehr News Agency quoted IOTC Managing Director Pirouz Mousavi as saying.

Iran also plans to lay a pipeline running from the Caspian Sea in the north to Jask,…

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Tags: IRAN, OIL, TERMINAL

Chronicle:

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