Lavan Oil Refinery Saves $30m by Using Indigenized Equipment

Lavan Oil Refinery in southern Hormozgan Province has saved about $30 million by using indigenized parts and equipment manufactured by domestic companies instead of importing them, managing director of the oil refining company said.
“Nearly 25,000 items have been produced for the first time at the refinery’s request, using the expertise and capacity of local manufacturers, and this has saved the company’s expenses,” Mohammad Ali Akhbari was also quoted as saying by IRNA.
Speaking about the refinery’s profit, he said, “Using all its capacities, Lavan Oil Refining Company achieved the highest net profit since the beginning of its activities in the last Iranian year [ended March 20, 2021].”