Tehran: Akbar Torkan, the secretary of Iran's Free Trade Zones Coordination Council, said on Wednesday that the facility will be Iran's second oil export terminal, Iran's Shana News Agency reported on June 18.
Torkan previously said, "A pipeline with the length of 2,200km transfers Iranian crude oil to the Sea of Oman shores. So, it is planned to establish oil storage and export facilities in the Jask Island."
Iran also plans to establish some four oil storage facilities on Kharg Island, located in the Arabian Gulf.
The construction operation of the four facilities is now 97 per cent complete.
Once the facilities come on stream, the island's storage capacity will reach 28 million barrels.
The facilities will come on stream at the cost of 420 billion rials (about $34.25 million).