Khatam al-Anbiya to Operationalize Projects Worth $28b

EghtesadOnline: Khatam al-Anbiya Construction Headquarters, an Iranian engineering company affiliated to the Iranian Revolutionary Guards Corps, will operationalize 40 major development projects worth 1,180 trillion rials ($28 billion) in the current Iranian year (March 2018-19), the headquarters’ chief executive, Brigadier General Ebadollah Abdollahi said.

News ID: ۷۸۲۵۰۴

06 May 2018

Noting that 10 major oil and gas projects worth $22 billion will come on stream this year, Abdollahi said, “One of the most significant projects is Persian Gulf Star Refinery, which will supply half the country’s needed petroleum.”

He put the number of people directly and indirectly working with Khatam al-Anbiya at 200,000 and 1 million respectively, IRNA reported.

Persian Gulf Star Refinery is being developed in three phases with a combined processing capacity of 360,000 barrels per day of condensate, a type of ultra-light crude extracted from the giant South Pars Gas Field in the Persian Gulf, according to Financial Tribune.

Once fully operational, the refinery will produce 36 million liters of high-octane gasoline as part of efforts to wean Iran away from importing the fuel product.

Khatam al-Anbiya is IRGC’s major engineering arm and one of Iran’s largest contractors in industrial and development projects. It was created during the 1980–88 Iran–Iraq war to help rebuild the country, diversifying over the years into companies dealing with mechanical engineering, energy, mining and defense.