Govt to upgrade Pakistan Refinery Limited

ISLAMABAD: To reduce the oil import bill, the government has decided to achieve self-sufficiency by upgrading the Pakistan Refinery Limited at the cost of $1 billion.

invest with imarat

Islamabad’s emerging city centre

Learn More

Along with pushing for the establishment of new oil refineries, the government is also working to modernise the existing facilities to cater to 55% needs of diesel and petrol that are currently being met through imports.

To carry out work regarding the multi-faceted strategy to achieve self-sufficiency, help from Chinese companies will be taken as 6 projects, investment initiatives and proposals of different stages are lined up to purify around 1.110 million barrel per day (BPD) of oil.

An oil refinery and a petrochemical complex of 300,000 BPD oil capacity at Gwadar and 250,000 BPD Coastal Refinery will be installed by PARCO at Hub, Balochistan.

A 250,000 BDP Refining and Industrial Park will be established by SINO Infrastructure Hong Kong Oriental Times Corporation ltd. (SIOT).

Pakistan State Oil in collaboration with Power China International Group will set up a crude pipeline of 250,000-300,000 BPD. KPK Refinery Ltd. will set up a facility in order to purify 20,000 BPD oil in Kohat and 40,000 BPD oil refining facility will be established by Falcon Oil Private Ltd. at Dera Ismail Khan.

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Rome’s Affordable Real Estate Draws Increasing Investor Interest

As Milan’s real estate boom starts to stabilize, investors are increasingly looking toward Rome as…

1 day ago

Dubai’s Second Tallest Tower Burj Azizi Shatters Records with Global Luxury Sales Launch

Dubai’s skyline is set to welcome a new icon as Azizi Developments launches global sales…

4 days ago

Real Estate Set to Surge as Government Plans to Scrap FED on Property Deals

The federal government is considering removing the Federal Excise Duty (FED) on the transfer of…

5 days ago

Egypt Launches MLS-Powered Real Estate Platform for Transparency & Investment

Under the patronage of Minister of Housing and New Urban Communities Sherif El-Sherbiny and Minister…

5 days ago

CDA to Hold Open Auction for Commercial Plots in Islamabad from February 25

The Capital Development Authority (CDA) has scheduled an open auction for commercial plots at Jinnah…

5 days ago

Islamabad’s Three Day Spring Festival Set to Wow Visitors with Cultural Showcase

The capital city of Pakistan is gearing up for a grand celebration as Interior Minister…

6 days ago