New developments Reported over Pakistan Saudi Arabia 10 billion mega Oil Refinery project in Gwadar

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…

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.”

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.