The first phase of Persian Gulf Star Refinery will come online this year and start producing high-octane gasoline.
The refinery is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%).
After the project's first phase becomes fully operational, other phases will come online each after 6 months.