Abu Dhabi to Set-up Oil Refinery in Pakistan
Pakistan Times Business & Commerce Desk

ISLAMABAD: Abu Dhabi will set up an oil refinery in Pakistan at a cost of five billion dollars.

VoA report that the authorities of Pakistan and Abu Dhabi have discussed the project. Abu Dhabi’s International Petroleum Investment Company has agreed to set up the oil refinery with the capacity to refine ten crore barrels annually in Hub, Balochistan.

It will be named as Khalifa Dossal Refinery. The investment company will keep 74% shares while government of Pakistan will hold 26% shares.The foundation stone of the refinery will be laid next month.

It is expected that the Crown Prince of Abu Dhabi Sheikh Muhammad Bin Zaid Al-Nahayan will be the chief guest at the ceremony, VoA added.●