Director General Gwadar Development Authority (GDA) Shahzeb Khan Kakar said that Oil City Gwadar will host multi-billion dollar Saudi Aramco Oil Refinery for which land allocation process is underway. He told the land allocation procedure will hopefully be completed in couple of months.
$10 Billion Dollar Aramco Refinery to be installed in Oil City Gwadar – Latest Update
While talking to Arab News Director General GDA Shahzeb Khan Kakar stated that forthcoming project of Oil City Gwadar will host $10 Billion Dollar Aramco Oil Refinery and $1 Billion Dollar petrochemical complex. He told that process of land allocation for both of these prestigious projects is underway with provincial government’s revenue department.
Aramco Oil Refinery is a part $21 Billion Dollar seven investment deals Saudi Arab and Pakistan signed last year. The Oil Refinery would have refining capability of between 250,000 bpd to 300,000 bpd.
Oil City Gwadar is a mega project under China Pakistan Economic Corridor spanning over 80,000 acres of land. Oil City will be used as storage for the oil imported from Gulf and then it will also provide a safe and short distant way for transportation of imported oil through Gwadar Port to China.
Gwadar to Boost Employments for the People of Balochistan Says President Alvi
On Wednesday February 19, President Dr. Arif Alvi was talking at the opening event of annual Sibi festival 2020. He emphasized that Balochistan will be the Main Beneficiary of CPEC and the socio-economic development of province will be boosted under the mega project.
President Alvi said that ongoing development in Gwadar specifically the activities at Gwadar port, Construction of Airport, Oil Refinery, important corridors and economic zones would boost employments in area and would create opportunities for the people of Balochistan.
The emerging port city would eliminate poverty and open new avenues of prosperity and development in the province.
“Gwadar will emerge as a new developed port city and economic hub on the world map after completion of ongoing projects,” Dr. Alvi said.
Watch the below given video to know one of the best commercial investment across Pakistan located at Jinnah Avenue Gwadar.
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