Iran builds storage space for crude oil in the port of the Gulf of Oman -SHANA | Agricultural raw materials

DUBAI, September 30 (Reuters) – A unit of the National Iranian Oil Co. (NIOC) signed a deal with a local company on Sunday to build a crude oil storage facility near the southeastern port of Jask in Iran, with an initial investment of 200 million euros ($ 232 million), reported the news website of the oil ministry SHANA.

State-run subsidiary of NIOC, Petroleum Engineering and Development Co. (PEDEC), signed the agreement with Petro Omid Asia Co. to build the facility with a total capacity of 10 million barrels on the basis of build-operate-transfer (BOT) in Jask, which lies on the Gulf of Oman, said SHANA.

Omid Investment Management Group Co. also signed the agreement, according to which the construction should be completed within three years, SHANA added.

Reporting by the editors of Dubai; Edited by Adrian Croft

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