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