TEHRAN June 09(Shana)--Each of the 8 shareholders of Siraf refining project could turn to European companies to meet their financial and technological needs, managing director of Siraf Refining Infrastructure Company Alireza Sadeghabadi said.

Speaking to Shana, Sadeghabadi further noted that the company had decided to rely on domestic potentials for the time being but each of 8 shareholders of the project is authorized to reach out to foreign companies for advancement of the project.

�Financially, the shareholders could get help from foreigners either as a partner or as financiers, he said.

Earlier Sadeghabadi said that using existing infrastructures at South Pars region could reduce expenses between one billion dollars to one and a half billion dollars.

He noted that being close to South Pars region will reduce capital expenditure needed for laying pipelines, building pumping stations and storage of feedstock as well as proving feedstock.

He also said that availability of an export terminal and allocating 4 jetties to Siraf refining project will trim investment needs by 400 million dollars.

By SHANA