Iran is planning to build a total of eight condensate refineries stretching over an area of about 300 hectares in the South Pars region in the southern Iranian province of Bushehr, a report said.

The project will be fully implemented by the private sector, added the Press TV report, citing an Oil Ministry announcement.

The refineries will have a daily production capacity of 24,800 barrels of liquefied gas, 128,000 barrels of light naphtha, 148,000 barrels of heavy naphtha, 29,600 barrels of jet fuel and 149,600 barrels of diesel, an official was quoted as saying in the report.

"The naphtha, which will be produced by the Siraf refineries, is one of the main feeds of the petrochemical industry and can be used by petrochemical plants across the country," said an official.

Based on the plan, a total of 480,000 barrels of condensates will be supplied daily to Siraf refineries for conversion to various products, the report said.

"There is currently a high demand for liquefied gas in the international market. Therefore, marketing the end product of the refineries will not be a problem," the official added.