6 banks financing bidboland-2 gas project

TEHRAN Oct 31 (Shana)–Six Iranian banks have agreed to invest as much as 3 billion dollars in a gas project in Bidboland-2 gas refinery, public relations department of Persian Gulf Holding announced in a statement.
A consortium comprising Bank Melli, Bank Sepah, Bank Tejart, Bank Mellat, Bank Parsian and Bank Sannat o Madan (Bank of Industry and Mining) have agreed to finance the project to step up its implementation, the statement said.
Five banks each will invest 350 million dollars while Bank Sepah has undertaken to spend 750 million dollars in the project.
The project will gather the gases in the area running by the National Iranian South Oil Company (NISOC) and will transfer them to Bandar Imam Khomeini and Gachsaran petrochemical plants as feedstock.
The statement further announces that the project will increase the volume of gas production in the country approximately 46 mcm/d.
Annual production of 1.48 million tons of ethane, 1 million tons of propane, 500 thousand tons of butane and 400 tons of liquid gas are among the main targets of the project.



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