SHANA -- Iranian Minister of Petroleum Bijan Zangeneh said the country was building a $1.8b oil pipeline project from Goreh to Jask Port of which $700m alone would be spent for developing the port.

Addressing a ceremony to sign several contracts between the Petroleum Engineering and Development Company (PEDEC) and local firms for building electro-pumps for the purposes of the project on Monday, Mr. Zangeneh said the project would transform the region as various oil storage facilities, export jetties, wave breakers and single buoy mooring systems would be built in Jask.

He further added that two refineries as well as petrochemical facilities were also planned to be build in the region afterwards.

The official also called for domestic manufacturing of revolving machinery including turbines, compressors, pumps, electro-engines, etc. as the county spent a fortune for importing such equipment.