Hassan Montazer Torbati told a Saturday ceremony to officially inaugurate the project in South Khorasan Province in eastern Iran that the project was planned to come on-stream by March 2019, but became operational a few months earlier.
He added that reducing the implementation time of the project had a significant impact on its costs.
The director of the Gas Engineering and Development Company said that nearly Rls. 800 billion was invested in development of the project while the costs could soar to Rls. 2,500 billion given the current prices.
Furthermore, early inauguration of the project before winter, besides creating well-being and comfort by providing gas for the adjacent cities and villages, prevents consumption of liquid fuels which will save the country another Rls. 350 billion, he added.
Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.