Posted on 04/18/2002 2:06:54 PM PDT by milestogo
China may set-up oil refinery in Karachi By Faheem Basar KARACHI: China is considering an investment of over $100 million for setting-up a 60,000 barrels per day oil refinery, near the adjoining area of the National Refinery Limited (NRL). A source in the National Refinery Limited (NRL), told The News that a high powered Chinese delegation which is currently visiting Pakistan met top officials of the NRL and discussed the possibilities of importing Sudanese crude oil and and then refining it at Karachi, for producing Naphtha. The source said; that though the delegation did not sign any formal agreement, however it would submit a formal proposal about the project after preparing a feasibility report. The source said; that the delegation would soon hold talks in Islamabad with the petroleum ministry officials to convey their interest in the said project The Chinese intend to transport crude oil from Sudan to Pakistan for its refining at the proposed refinery to produce Naphtha. The commodity would either be exported to different parts of the country, or shipped to China for the production of various goods. Likewise, a Chinese firm would also set-up a power plant of 300 MW at an area of 50 square kilometres at Thar. The Chinese have also prepared a Project Component (PC-II) with regards to Pakistan Railways for carrying coal from the mines to the power plants, he said.
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