SHANA – The CEO National Iranian Oil Products Distribution Company (NIOPDC) is planning to issue a call for attraction of investment to finance a gasoline vapor recovery project in gas stations.
Speaking to Shana, Mohammad Reza Mousavikhah, NIOPDC CEO, said development of the project, dubbed as KAHAB, requires fresh investment and the company is planning to issue a call for investment in order to bankroll the project.
KAHAB has been taken from the first words of reduction, conduction, transportation and gasoline vapor recovery in Farsi.
At first KAHAB was established to pursue environmental goals, but now it has been considered as an economic plan.
The project entails about 80 depots, 3400 gasoline refueling stations and 10,000 road tankers across the country.
Mousavikhah said the call will be issued to all the potential investors in May.
“We have held talks with Tejarat Bank which has signaled interest in funding the project,” he said.
The evaporation of volatile organic compounds (VOC) has been a debate in the past Iran’s oil industry.
In general, volatile products in contact with the Oxygen evaporate and enter to the air. This could cause a lot of physiological and environmental damages. There is evaporation of organic compounds in the category of motor gasoline, which will cause physiological damage, including damage to the human central nervous system, nose, throat and eye irritation, genetic mutation, premature delivery and etc. Also harmful environmental effects such as acid rain producing, global climate changing, Earth’s temperature increasing, phenomenon of photochemical smog creation and ozone layer depletion arise from these compounds.