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PARCO Coastal Refinery

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Parco Coastal Refinery
CountryPakistan
ProvinceBalochistan
CityKhalifa Point
Refinery details
Owner(s)PARCO
IPIC
Capacity250,000 bbl/d (40,000 m3/d)

Parco (Khalifa) Coastal Refinery is a proposed oil refinery in Khalifa Point in Lasbela District, Balochistan, Pakistan. Bosicor Oil Refinery and HUBCO power will be its major neighbouring industries. The refinery site is to be located at Hub, Balochistan, near Gaddani coastal area. It covers 1,800 acres (7.3 km2). The project is expected to cost US$6 billion.[1] According to media sources, it will be the largest single foreign direct investment ever made in Pakistan.[2]

The refinery will have a capacity of 250,000 barrels per day (40,000 m3/d), equal to 13 million tons of petroleum products per year.[1][3] It is an existing refinery to be dismantled and relocated from North America to Pakistan. In addition to the refinery, the project includes also 250 MW natural gas-fired power plant, a grid station, a seaport jetty and a city to accommodate refinery workers.[4]

The project was approved by Government of Pakisntan in October 2007.[5] Owners of the refinery will be Pak-Arab Refinery (PARCO) (24%) and International Petroleum Investment Company of Abu-Dhabi (IPIC) (76%).[2][6] The project was suspended several times by IPIC, but continued.[7] As of August 2013, Abu Dhabi plans to revive Khalifa refinery project after Debt has been cleared.[8]

References

  1. ^ a b Bhutta, Zafar (2011-09-05). "Increasing capacity: PARCO set to approve investment in $6b refinery". The Express Tribune. Retrieved 2012-01-04.
  2. ^ a b "Abu Dhabi plans $5 bn refinery in Pakistan". The Hindu. 2007-11-12. Archived from the original on 2007-11-13. Retrieved 2012-01-04. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  3. ^ Bhutta, Zafar (2011-06-24). "Joint venture project: PARCO to restart work on Khalifa Coastal Refinery". The Express Tribune. Retrieved 2012-01-04.
  4. ^ Himendra Mohan Kumar (2008-07-24). "UAE-Pakistan trade touches $7b". Gulf News. Retrieved 2012-01-04.
  5. ^ "Pakistan OKs refinery project by UAE's IPIC-agency". Reuters. 2007-10-10. Retrieved 2012-01-04.
  6. ^ Hussain, Ghulam (2011-11-11). "UAE Firm to Set Up Oil Refinery in Pakistan". Ohmi News. Archived from the original on 2016-03-05. Retrieved 2012-01-04. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  7. ^ "Khalifa refinery project again in doldrums". Business Recorder. 2010-02-20. Retrieved 2012-01-04.
  8. ^ http://tribune.com.pk/story/590693/debt-cleared-abu-dhabi-plans-to-revive-khalifa-refinery-project/
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