KARACHI: New developments Reported over Pakistan Saudi Arabia $10 billionmega Oil Refinery project in Gwadar.
Gwadar Development Authority (GDA) Director-General Shahzeb Khan Kakar hassaid that upcoming oil city project in Gwadar will host amultibillion-dollar Saudi Aramco refinery, Arab Newslink reported.
He hoped that the process of land allocation for the $10 billion Saudi oilrefinery project and a $1-billion petrochemical complex would be completedwithin a couple of months.
Kakar told Arab News: “The land allocation process for the oil refinery isunderway with the provincial government’s revenue department in Quetta.”
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Saudi Arabia and Pakistan signed seven investment deals worth $21 billionduring visit of last year which included the Aramco refinery. The oilrefinery has a expected refining capacity of between 250,000 bpd to 300,000bpd.
Gwadar is at the heart of the China Pakistan Economic Corridor (CPEC) andBeijing is investing $60 billion in energy and infrastructure sectors ofPakistan.
