PESHAWAR – Khyber Pakhtunkhwa government has acquired six hundred kanalland for the construction of an oil refinery in Karak District.

A spokesman of the provincial government told our Peshawar correspondentthat a memorandum of understanding has been signed with Frontier WorksOrganization for construction of the oil refinery.

It will be completed at a cost of about sixty-four billion rupees in fouryears.

The spokesman said a similar MoU has also been signed with a Russiancompany for the construction of another oil refinery in the area.

The company will spend thirty five billion rupees on the construction ofthe refinery.

Both the refineries will have the capacity to refine sixty thousand barrelsoil per day.

Karak, Kohat and Hangu have huge oil and gas reserves.