China Pakistan Economic Corridor - CPEC

Land allocation in process for $10b #Saudi #Aramco refinery in #Gwadar

Gwadar Development Authority (#GDA) Director-General Shahzeb Khan Kakar has said that upcoming oil city project in Gwadar will host a multibillion-dollar Saudi Aramco refinery, Arab News reported.

He hoped that the process of land allocation for the $10 billion Saudi oil refinery project and a $1-billion petrochemical complex would be completed within a couple of months.

Kakar told Arab News: “The land allocation process for the oil refinery is underway with the provincial government’s revenue department in #Quetta.” #SaudiArabia and #Pakistan signed seven investment deals worth $21 billion during visit of last year which included the Aramco refinery. The oil refinery has a expected refining capacity of between 250,000 bpd to 300,000 bpd.

Gwadar is at the heart of the #China Pakistan Economic Corridor (#CPEC) and Beijing is investing $60 billion in energy and infrastructure sectors of Pakistan

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