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Historic deal signed to set up oil refinery in KP


LAHORE -  WAKGROUP from Pakistan and Guangdong Electrical Design Institute (GEDI) from China have agreed to construct a state-of-the deep conversion Falcon Oil Refinery in KP province.

This epic agreement was signed by Waqar Ahmed Khan, Chairman WAKGROUP, and Qiao Xubin, Vice President GEDI, and was endorsed by Yu Gang, Vice President CEEC (China Energy Engineering Corporation), the parent company of GEDI.
After the expected completion of project in 30 months starting from commencement date, the total contract value amounts to approximately US$3.58 billion, with a capacity to produce up to 100,000 barrels per day. In addition, the project has a 100MW power plant and a 3.8 MM MT storage on site and across Pakistan. This contributes to the strategic storage for the country and takes the coverage to 45 days.
Top management of WAKGROUP, GEDI, CEEC and noted personalities from the corporate sector were present at the signing ceremony.
Source: The Nation