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Print Print edition: 2023-04-12

Setting up of big refinery in Balochistan: proposals sought

  • CSG and a Chinese consortium are coordinating to setup a 10 million MTPA refinery project in Pakistan
Published April 12, 2023 Updated April 12, 2023 12:54pm
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By Mushtaq Ghumman
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ISLAMABAD: The Board of Investment (BoI) has sought response to questions from concerned Ministries posed by a consortium which intends to set up 10 Million Tons Per Annum (MTPA) refinery in Balochistan.

Capital Strategies Group (Pvt.) Ltd (CSG) is a leading trading house based in Pakistan. The company is working as one of the premier companies in the country representing multinational firms in energy, infrastructure, vertical transport, cement, fertilizers and defence sectors.

Saudi Arabia links oil refinery’s setup with political consensus

CSG and a Chinese consortium are coordinating to setup a 10 million MTPA refinery project in Pakistan.

In order to finalize the project outline, the company has sought further details and information such as: (i) are both Gwadar and Karachi available for crude oil import and finished product export; (ii) is there enough electricity supply for the refinery (200 MW) possible location of Hub/ Karachi/ Gwadar; (iii) if the company opts for captured power what locations are suitable for coal imports; (iv) any incentives regarding the tax for investors or duty free import of machinery; (v) is there a government pre-approved list of industries for Chinese investors; (vi) is there any potential local off-taker? Will the local OMCs act as off-takers for this product; (vii) is there any existing industrial zone with enough land for the refinery; (viii) is there is an industrial zone in Gwadar/ Hub/ Karachi where the company can take advantage of investment incentives; and (ix) what are the licensing and regulatory requirements needed to put up an oil refinery?

BoI, in its letter to Petroleum Division, Power Division, Federal Board of Revenue (FBR) and Ministry of Industries and Production (MoI&P) has requested additional information so that the company is facilitated to invest in the establishment of the refinery.

Copyright Business Recorder, 2023

Pakistan Crude Oil Balochistan PETROLEUM DIVISION BOI investments Gwadar Chinese investors OMCs Board of Investment oil refinery refinery

Comments

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Shami Apr 12, 2023 09:01am
Obviously the company has not done its homework : response to most of the queries are known GOP should instead ask for their feasibility and incentives desired including time line for financial close and group financial strength
0
Tulukan Mairandi (Salem) Apr 12, 2023 09:34am
As usual, its a DIVERSION PLOY from GROUND REALITIES OF TODAY. WHAT IS THE STATUS OF MANY GAME CHANGER INVESTMENTS IN THE PAST...?
0
Zubair Apr 12, 2023 09:41am
Investment in renewable energy will pay off rather than in junk which is going to obsolete anyway.
0
Haq Apr 12, 2023 11:59am
With current policies, taxes / duties, import restrictions & mammoth corruption, existing refineries are struggling (bankruptcy, low production, shutdowns) & upgrading to Euro-V standards are on-hold or cancelled. Govt (both previous & current) were focusing on import of refined petroleum products from gulf. In absence of proper refinery & exploration policy, new mega refinery that rely solely on imports (crude, coal for power) will be nothing but another white elephant & increase govt dept
0
Tulukan Mairandi Apr 12, 2023 12:10pm
Who wants to invest in failed, terror infested and on the brink of default country called Pakistan? Unless Balochistan is considered independent, which it ought to be.
0
Haris Apr 12, 2023 12:59pm
@Tulukan Mairandi, hahahahaha. so petty you have lots of pains and will be Inshallah. your Imran puppet will be failed.
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Haris Apr 12, 2023 01:00pm
These are the work which should be done and in last past 4 years it was only corruption nothing else.
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Az_Iz Apr 12, 2023 06:26pm
Big investment in the pipeline from KSA, UAE and now this company. Politicians spreading good news of all the great things that will happen in the near future
0
Az_Iz Apr 12, 2023 06:28pm
Political messaging. Hang tight during tough times. Prosperity is around the corner.
0
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