Saudi Refinery Ready to Set Foot in Gwadar
Under the China Pakistan Economic Corridor (CPEC) Project, China is investing $60 billion in energy and infrastructure sectors of Pakistan.
Director General, Gwadar Development Authority (GDA), Shahzeb Khan Kakar has recently disclosed that the oil city project in Gwadar will host a multibillion dollar Saudi refinery named Aramco. Currently, the project is in land allocation phase and the DG hopes that the entire process of land allocation for the $10 billion Saudi oil refinery project and a $1-billion petrochemical complex would be completed within a couple of months.
The Director General told the Arab News, "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 development of Aramco refinery in Gwadar.
The oil refinery has an expected refining capacity of between 250,000 bpd to 300,000 bpd.