Oil refinery project in Pakistan: UAE to invest $5bn

ISLAMABAD: As a result of the extensive discussions that took place between Mubadala Petroleum, Pakistan’s Petroleum Ministry, Pak-Arab Refinery Limited (PARCO) and OMV, UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi announced that they are going to launch one of the biggest investments of worth $5 billion in a refinery project in Hub very soon.

invest with imarat

Islamabad’s emerging city centre

Learn More

With the two governments still finalising the minute details of this refinery project, the investment is a step towards strengthening Pakistan-UEA relations, he further said.

Prior to this announcement, many meetings had taken place regarding this project. Headed by the chief executive officer of Mubadala Petroleum, a UAE delegation had met with the Board of Investment (BoI) Chairman and the Petroleum Minister during a visit to Pakistan a few months ago.

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

13 hours ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

1 day ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

2 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago

Model Town Gujranwala: A Well Planned Residential Area

Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…

2 weeks ago

Senate Greenlights Special Courts for Swift Resolution of Overseas Pakistanis’ Property Cases

ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…

2 weeks ago