A Saudi delegation, headed by Saudi Minister for
Energy, Industry and
Minerals Khalid Abdul Aziz Al
Falih, inspect the land allocated for
a proposed oil refinery in his earlier
visit to Gwadar in 2019. Pakistan
and Saudi Arabia have a distinctive
relationship; the state-of-the-art oil
refinery is the biggest investment
project of Saudi Arabia in Pakistan.
Gwadar Development Authority
(GDA) Director-General Shahzeb
Khan Kakar has said that upcoming
oil city project in Gwadar will host a
multibillion-dollar Saudi Aramco
refinery.
The process of land allocation for
the $10 billion Saudi oil refinery
p r o j e c t a n d a $ 1 - b i l l i o n
petrochemical complex would be
completed within a couple of
months.
Kakar said: “The land allocation
process for the oil refinery is
underway with the provincial
government’s revenue department
in Quetta.” Saudi Arabia and
Pakistan signed seven investment
deals worth $21 billion during visit
of last year which included the
Aramco refinery. The oil refinery
has an expected refining capacity of
between 250,000 bpd to 300,000
bpd.
Gwadar is at the heart of the China
Pakistan Economic Corridor
(CPEC) and Beijing is investing $60
billion in energy and infrastructure
sectors of Pakistan.
Date :
Sunday 5 April 2020
Source :
Tag :
Investement in Gwadar,
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