Chinese Company to Build $4.5 Billion Oil Refinery in Gwadar

  • by Sharoon Jan
  • 1 month ago
  • News
  • 1
Chinese Company to Build $4.5 Billion Oil Refinery in Gwadar

Fang Yulong, Senior Vice President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) and CEO of East Sea Group Limited has planned to invest US 4.5 billion dollars to build a refinery plant with an annual refining capacity of eight million tons in Pakistan.

He stated this during a briefing at a think tank session of PCJCCI on Thursday at the PCJCCI Secretariat.

Fang stressed that the development of the energy industry is an essential catalyst for the transformation of economic structure. It can stimulate and guarantee the industrial development of various downstream industries and further reduce the trade deficit and increase foreign exchange income reserves in Pakistan month at the Gwadar port in Pakistan. It will provide oil to major oil-producing countries in the Middle East of oil transfer, STS, and blending services.”

Fang stressed that the development of the energy industry is an essential catalyst for the transformation of economic structure. It can stimulate and guarantee the industrial development of various downstream industries and further reduce the trade deficit and increase foreign exchange income reserves in Pakistan.

Join The Discussion

Compare listings

Compare