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.
Could oil refinery be established in Pakistan instead of Gwadar?
It was indicated vaguely that an oil refinery may be established somewhere else in Pakistan instead of Gwadar. However, a recent development saw Saudi Arabia signaling renewed engagement to come up with an oil refinery project in Gwadar.
Will Gwadar get a $4.5 billion oil refinery?
According to the press release of the Chinese firm, the East Sea Group, a $4.5 billion oil refinery is being built in Gwadar. It will have an annual oil processing capacity of 8 million tons.
Will Saudi Arabia sign a multi-billion-dollar oil refinery deal in Gwadar?
Saudi Arabia has signaled renewed engagement to come up with an oil refinery project in Gwadar, Pakistan. Few days back, reports suggested that the two countries are inching toward signing a multi-billion-dollar deal for this project that had stalled for several years.