The facility has been distinguished to have the priority in the projects for reconstruction and renovation of the existing facilities.
The project for establishment of the plant will start once executive operations to that effect are completed and will be completed in three years at 310 million euros per EPCF contract.
The capital reimbursement for the project is expected to be 436 million euros.
Kharg Island is a continental island in the Persian Gulf belonging to Iran.
The island is located 25 km (16 mi) off the coast of Iran and 483 km (300 mi) northwest of the Strait of Hormuz.
Administered by the adjacent coastal Bushehr Province, Kharg Island provides a sea port for the export of oil and extends Iranian territorial sea claims into the Persian Gulf oil fields. Located on Kharg Island is Kharg, the only city in the Kharg District.