“In the Hub area, the UAE is already in the process of setting up a deep conversion refinery. In addition, there is already a Byco refinery, which has long been operational,” the source told Pakistani paper The News.
However, the official said the site of Aramco project is yet be finalised as the pre-feasibility study on behalf of Pakistan has not yet completed.
The authorities’ concerned have been asked to finalise the site for project by April at the latest, the source said.
Pakistan wants the refinery and petrochemical complex to be located in Gwadar, but the project pre-feasibility study will determine the site of the project.
However, the official source told The News that Saudi Arabia, during the visit of Crown Price Mohammed Bin Salman to Pakistan during 17-18 February 2019, inked MoUs worth $20bn out of which it was decided that Saudi Aramco will establish a refinery and petrochemical plant in Gwadar.
Saudi Arabia, the official said, wants to install the refinery with capacity of 300,000 barrel per day to refine the crude oil.
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