SHANA -- The Iranian Minister of Petroleum said that the country would launch Bidboland Persian Gulf Gas Refinery by the end of the current calendar year to March 20 2020.

According to ICANA, Bijan Zangeneh said on Tuesday that by the end of the 6th development plan, the country would be consuming over 90% of its flared gas.

“In order to reach this goal, we will need an investment of over $8 billion,” the official said on the sidelines of a meeting with the parliament’s energy committee. “Inauguration of the projects has begun this year and will continue until 2022.”

He further said that Bidboland Persian Gulf Gas Refinery, as the largest facility to consume gas flare, will come on stream by March 2020. “Nearly $3.5 billion has been spent for launching the refinery by the Persian Gulf Petrochemical Industries Company (PGPIC).”