S.O.R.C is the first private-sector refinery which refines heavy crude oil and will be suitable for producing Bitumen.
The main shareholders of this company are as follows:
Meraat International Group 35%
Persia Talar Tejarat Co. 7%
Porner Co. Austria 5%
Round Rich Limited 7%
The Austrian Porner Co. is a well experienced company in establishing refineries all over the world including Iran , and in addition to participate in this project, they are also responsible for constructing the refinery on a Turn-Key basis contract .
The refinery will be constructed in Qeshm Island Economic Free Zone includes some advantages like not paying Tax Holiday and issuing Visa for foreign personnel.
S.O.R.C main shareholders, who have 20 years experience in Bitumen exporting field, know the great demand of Bitumen in Asia and Africa markets such as China, India, CIS Countries and …, acknowledge that Soroush heavy crude oil has slight demand in international markets, is a suitable opportunity to use the aforesaid crude oil for feeding the refinery.
The refinery will be constructed based on Biturox-Plus technology, in order to refine 1,500,000 tons of Crude Oil annually. This technology is able to refine the Crude Oil with the minimum of wastes and moreover in consider of European Environmental Standards which is deficient of any kind of environmental pollution.
General speaking 36.4% of the refinery production (546,600 tons) will be the Gasoil and 61.4% (921,000 tons) Bitumen. Also the sales and exports rate is due for about 500,000,000 USD annually.
The project’s budget will be provided by shareholders and Iranian Export Development Bank (EDBI) and it’s anticipated that the construction of the refinery begin on year 2017 and it will be finished during 20 months.
With consideration to increasing demand for Bitumen in domestic market and Oil Ministry’s outlook based on the reforming the projects and refineries in order to produce light products and the fact that there is no other Bitumen production project in Iran, this refinery will have a promising market in the International Business Forum. Because of this advantage, the contract of supplying crude oil to the Refinery has been signed between Oil Ministry of Iran and Soroush Oil Refinery for 20 years with 6% discount.
Addition to the Bitumen refinery, there are many opportunities to construct other facilities such as Drum manufacturing packing, isolation products, fabrication of Oil and Gasoil pipe insulation coverage which will result 4-5 thousand employment in the region.