Refinery modernization: Aurangzeb welcomes Honeywell’s proposal

WASHINGTON: A delegation from Honeywell Technologies, led by its Vice President and General Manager, Barry Glickman, met with Finance Minister Muhammad Aurangzeb in Washington, D.C.

During the meeting, the Finance Minister welcomed Honeywell’s proposed modernisation and expansion of Pakistan’s refinery sector, noting its potential to enhance the country’s domestic refining capacity and reduce reliance on imported petroleum products.

According to press release issued by finance ministry Tuesday, the meeting included discussions on Honeywell’s technology and equipment solutions, as well as potential financing through the U.S. EXIM Bank, the U.S. International Development Finance Corporation (DFC), export credit agencies, and leading international banks.

The minister emphasized that the proposed initiative would support Pakistan’s energy security, industrial development, and sustainable economic growth, the statement added.