China setting up a $15 Billion Oil Refinery in Pakistan

China setting up a $15 Billion Oil Refinery in Pakistan

A consortium of Chinese state-claimed organizations has presented to set up a $15 billion petroleum treatment facility complex. So China is setting up a $15 Billion Oil Refinery in Pakistan.

The China Petroleum Pipeline Engineering Company LTD (CCP) and China Zhen Hua Corporation have shown revenue to put $15 billion. This Investment will be a petroleum processing plant complex, Board of Investment (BOI) Secretary Fareena Mazhar told.

China Petroleum Pipeline Engineering Company Limited is an auxiliary of the China National Petroleum Corporation.

The organization has intended to set up the processing plant in four years at a site.  In any case, the secretary said that any organization can look for the situation with SEZ under the new standards and would be qualified for the equivalent charges and obligations concessions accessible to SEZs.

China is the third country that has shown interest in setting up a petroleum processing plant in Pakistan after the United Arab Emirates and Saudi Arabia.

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