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Board of Investment Seeks Responses for Massive Oil Refinery in Balochistan - LRE-Azan - 04-15-2023 05:56 PM
Board of Investment Seeks Responses for Massive Oil Refinery in Balochistan
Balochistan: As per the latest news reports, a consortium aiming to construct a 10-million-ton-per-year (MTPA) refinery in Balochistan has asked queries. Following that, the Board of Investment (BoI) has requested responses from concerned Ministries.
According to Business Recorder, BoI has drafted a letter to the Petroleum Division, Power Division, Federal Board of Revenue (FBR), and Ministry of Industries and Production, requesting to entertain the queries about the company’s investment in the manufacturing of the refinery.
The projected 10 million MTPA refinery in Pakistan is being developed by a Chinese consortium and Capital Strategies Group (Pvt.) Limited (CSG). The company has requested more information and details to complete the project’s outline.
The requested information includes:
Are both Gwadar and Karachi available for crude oil import and finished product export?
Is there enough electricity supply for the refinery (200 MW) possible location of Hub/ Karachi/ Gwadar?
If the company opts for captured power, what locations are suitable for coal imports?
Any incentives regarding the tax for investors or duty-free import of machinery?
Is there a government-pre-approved list of industries for Chinese investors?
Is there any potential local off-taker? Will the local OMCs act as off-takers for this product?
Is there any existing industrial zone with enough land for the refinery?
Is there an industrial zone in Gwadar/ Hub/ Karachi where the company can use investment incentives?
What are the licensing and regulatory requirements needed to put up an oil refinery?
CSG is a leading trading firm based in Pakistan. The company represents multinational corporations in the energy, infrastructure, vertical transportation, cement, fertilizers, and defence sectors.