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 The Deputy Head of Bosch Auto Spare Parts Company Christopher Denville as saying, "Currently, Bosch is cooperating with 55 firms in Iran and seeks to expand its activities in the region."

He said that Bosch has been cooperating with its Iranian partners for many years, recalling, "The first Bosch representative office was opened in Iran in 1924 and the first contract with Iranian automotive maker was signed in 1971."

The senior manager said that the company was forced to leave Iran in 2006 due to the sanctions against the country, but in the year following the implementation of nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), Bosch returned to Iran and established a new firm named Bosch Tejarat Pars.

In relevant remarks in January, German Ambassador to Tehran Michael Klor-Berchtold voiced his country's eagerness to broaden bilateral ties with Iran in the trade sector.

"Germany likes to develop dynamic relations with Iran in economic fields," Klor-Berchtold said.

"We are ready to utilize all potentials in Iran's northwestern province (of East Azarbaijan) to bolster bilateral ties in all fields, including the pharmaceutical and auto manufacturing sectors," German envoy added.

He reiterated that his country maintains dynamic and flexible ties with Iran.

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With the going on stream of this phase, 8 million liters of Euro-5 diesel will be added to the country's fuel production basket, said Alireza Sadeq-Abadi, a deputy oil .minister, at a ceremony to inaugurate the distillation units of the second phase of the Persian Gulf Star Refinery on Wednesday

He recalled that in February last year, Iran's average daily gasoline output stood at 60 million liters per day, adding the figure currently amounts to 78 million liters per day, narrowing the gap between consumption and production of the product.

Sadeq-Abadi noted that the once operational, the Persian Gulf Star Refinery will be able to produce 36 million liters of Euro-5 gasoline per day, which is unique in the world.

Expressing hope that the third phase of the refinery would be launched as soon as possible, he said that environmental achievements of the project to construct the Persian Gulf Star Refinery would be of utmost importance.

The deputy oil minister further said the isomerization unit of Bandar Abbas Refinery in Hormuzgan Province will begin production by mid-March 2018, adding following its launch, the unit will improve the quality of 12 million liters of the refinery's gasoline output.

Sadeq-Abadi added that after the completion of the construction of a hydrotreating unit in the year to mid-March 2019, the refinery will be capable of producing 12 million liters of Euro-4 gasoil.

Hormuzgan Province currently accounts for 40 percent of the country's total gasoline production given the output of Bandar Abbas and Persian Gulf Star refineries.

Being the biggest gas condensates refinery in the Middle East, the Persian Gulf Star Refinery with a daily output of 360,000 barrels per day is under construction in three 120,000-barrel phases in an area of 730 hectares.

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