TEHRAN — A contract to increase gasoline production at Bandar Abbas Refinery, southern Iran, was signed on Sunday night.

Being worth €400 million, the contract was signed between Iran Oil Engineering and Construction Company (IOEC) and an Iranian consortium comprising of Petrochemical Industries Design & Engineering Co. (PIDEC), Erection and Construction Company (ECC) in cooperation with the German ABB Lummus.

The project to increase gasoline production at Bandar Abbas Refinery is the second stage of a plan to develop and upgrade the refinery. It will increase gasoline production from Bandar Abbas Refinery to 13 million liters per day.

The project constitutes the establishment of light naphtha, heavy naphtha, changing catalyst, gas oil treatment, sulfur, amine, and sour water units plus building storage tanks with a capacity of 2.8 million barrels.

Also boosting the production capacity of water, electricity, and steam, the project is expected to finish within three years.

The first stage of the plan to develop Bandar Abbas Refinery is underway with 72 percent of physical progress, which will increase the production capacity at the refinery to 320,000 barrels per day (bpd) from the current amount of 232,000 bpd.

The contract on increasing gasoline production at Bandar Abbas Refinery is the fifth contract of Iran’s plans for developing and upgrading refineries.