There is no denying the fact that due to its location, Gwadar deep Xinjiang. Xinjiang in China lies 4,500 kilometres from China’s east coast but just 2,500 kilometres from Gwadar. This will make it possible for China to challenging task of competing with developed ports of the region. competitive project.
How much does Gwadar oil project cost?
The total cost of the project is estimated at US$1.16 billion. billion during that time. Gwadar is 72 kilometers from the Iranian border; of Hormuz, through which 40% of the world’s oil passes. The deep-sea port the Persian Gulf, Xinjiang, Iran, and South East Asia.
Will China build oil refinery in Gwadar Free Zone Area Phase II?
The Chinese enterprise’s engagement to build an oil refinery in Gwadar Free Zone area phase II has electrified the mood and morale of the CPEC’s reinvigoration, as the matter of whether it will be built has remained in limbo and caused ominous susceptibility on the future of Gwadar development.
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.