Chinese company to set up petrochemical, refining complexes at Gaddani

ISLAMABAD: In an enormously positive development, China National Petroleum Corporation (CNPC) has made up its mind to establish state-of-the-art oil refining and petrochemical complexes including petroleum related equipment manufacturing facilities at the cost of $1.47 billion in Balochistan and to this effect, Pakistan authorities have proposed Gaddani as one of the potential sites for the said projects. The Chinese companies under the umbrella of CNPC will execute the projects.
The said initiatives will be in addition to the huge oil city that is being founded at Gwadar port. The high powered CNPC delegation headed by Wang Shihong, that is on a visit to Pakistan (November 2-4), unveiled the plan to set up oil refining and petrochemical complexes including petroleum related equipment manufacturing facilities other than the Gwadar port in a meeting held on November 3 with top officials’ team headed by Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi. Pakistan has proposed Gaddani in Balochistan province as one of the potential sites for the said projects, a senior official told The News.
The said meeting was factually the follow up event of the recent visit of Yan Lijin from National Development and Reform Commission (NDRC) of the Peoples of Republic of China who had met Prime Minister Mohammad Nawaz Sharif and other dignitaries with regard to setting up industrial parks including petrochemical complexes.
The petrochemical integrated complex along with urea project is likely to cost $770 million. In addition CPNC will also install land based LNG receiving terminal at a cost of $700 million. Moreover, CNPC will also revamp and upgrade Pak-Arab Refinery Plant.
The said industrial parks, the official said, will be very important projects under CPEC framework and could become the part of the regional production and supply hub of quality products, the upbeat official said adding,
“This will go a long way in developing Pakistan and improve the living standard of its people and help assist participation of Pakistan people and the government in the development of ‘One Belt, One Road’ project.” And on top of that it would result in great benefits not only for Pakistan but the entire region at large.
In the meeting, Pakistan also offered CNPC mutually beneficial opportunities available in the exploration and production sector and invited CNPC to take part in exploration and production activities of the oil and gas in Pakistan either independently or through joint venture with state owned exploration and production companies such as OGDCL and Pakistan Petroleum Limited.