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With Pakistan¡¯s two other major ports operating near capacity with no room for expansion, projects in Gwadar promise to eventually handle one million tons of cargo annually, while also providing significant industrial, oil, and transportation infrastructure.
Which country is planning a $2 billion oil refinery near Gwadar?
A $2 billion oil refinery is planned to be set up near Gwadar. The port is being developed by the China Overseas Port Holding Company (COPHC), to which it was leased by the Pakistan government for 40 years in April 2017. The final expansion of the port and ancillary systems will be undertaken by the Chinese.
Is Sharif planning a greenfield refinery project at Gwadar Port?
The government headed by Prime Minister Shehbaz Sharif is reportedly in the advanced stages of negotiations with Saudi giant Aramco to execute the greenfield refinery project at the strategic Gwadar Port and wants to complete the initial paperwork before its tenure ends in two weeks.
Will Saudi Arabia build Pakistan’s largest oil refinery?
Islamabad: Four Pakistani state-owned petroleum companies have signed a memorandum of understanding with Saudi Arabia to build Pakistan’s largest oil refinery with an investment of USD 10 billion in the strategic Gwadar Port, according to a media report on Friday.