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Chinese Company to Build $4.5 Billions Refinery in Gwadar

Chinese Company to Build $4.5 Billions Refinery in Gwadar

Chinese Company to Build $4.5 Billions Refinery in Gwadar

Chinese Company to Build $4.5 Billions Refinery in Gwadar

Fang Yulong, Senior Vice President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) and CEO of East Sea Group Limited, plans to spend US 4.5 billion dollars in Pakistan to construct a refinery facility with an annual refining capacity of eight million tonnes.

This was revealed by him at a briefing at the PCJCCI Secretariat’s think tank session on Thursday.

Fang emphasised that the growth of the energy industry is a critical accelerator for economic structure transformation.

It can not only boost and ensure the industrial growth of various downstream sectors, but it can also help Pakistan lower its trade deficit and enhance its foreign currency earning reserves. Pakistan.onto in Pakistan’s Gwadar port.

It will provide oil transfer, STS, and mixing services to key oil-producing countries in the Middle East.”

Fang emphasised that the growth of the energy industry is a critical accelerator for economic structure transformation. It can not only boost and ensure the industrial growth of various downstream sectors, but it can also help Pakistan lower its trade deficit and enhance its foreign currency earning reserves.

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