Iran

[Shahab3]

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Abadan Oil Refinery development plan 80% complete

ABADAN, Aug. 30 (MNA) -- The phase three of the Abadan Oil Refinery’s development plan is 80 percent complete, the refinery’s managing director said here on Sunday.

The Islamic Republic of Iran Broadcasting (IRIB) quoted Alireza Abhaji as saying that the project is estimated to come on stream by mid-March 2010.

“Once the unit is put into operation, the refinery’s gasoline output capacity will rise to 16 million barrels per day from the current figure of 10 million barrels, supplying 20 percent of the domestic gasoline demand,” he said.
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Previously, Abhaji had stated that a Chinese company will take up 35 percent share in the refinery development project.
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Damit dürfte Abadan dann wohl mindestens wieder auf Vorkriegsniveau arbeiten und eine gewisse Entlastung der sanktionsbedrohten Achillesverse darstellen.

Der größte iranische Automobilhersteller steckt allerdings tief in der Krise:
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Iran Khodro in trouble
By Salman A. Javid & M. Amin Mokarrami
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Today, Iran Khodro Co. (IKCO) is on the verge of bankruptcy.
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He added that due to the loss, IKCO was unable to pay dividends to its shareholders.
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The Money Credit Council of Iran has accepted to inject $1 billion into IKCO this year. However, the total IKCO’s debts and financial commitments amount to over $9 billion, mainly to public banks, according to the economic daily “Sarmayeh”. The daily added that this debt is more than nine times the company’s registered capital assets, signifying that the company is effectively bankrupt.
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