Lavan refinery of Iran will start producing jet fuel in the next Iranian calendar year (to start March 21, 2012), the refinery’s managing director announced on Tuesday.

The plan is aimed to export jet fuel, as a strategic oil product, from the Persian Gulf to international markets, Mohammad-Ali Dadvar told the Mehr news agency.

He also said that the refinery will boost gasoline production capacity by three folds to 3.8 million liters per day in spring next year.

Some $500 million will be invested in Lavan refinery’s development plan, which is now complete by 80 percent, he noted.

The managing director of National Iranian Oil Products Distribution Company, Jalil Salari, has said that the neighboring countries, as well as the East Asian countries have declared their readiness to buy Iranian jet fuel.

Iran started hiking up its jet fuel production capacity after U.S. President Barack Obama signed into law the toughest ever U.S. sanctions on Iran aimed at choking off Tehran's access to imports of refined petroleum products like jet fuel and curbing its access to the international banking system, Fars news agency reported.