Gwadar: The masterplan for Pakistan’s largest oil city in Gwadar including a USD 10 billion Aramco oil refinery is scheduled for completion by the year-end – a news source reported on February 20. The mega project is expected to be developed on an area of 88,000 acres in Gwadar.
The Gwadar oil city will work to refine and process petroleum products imported from the gulf for local and regional consumption. The agreement for the refinery had been signed during 2019 visit of the Saudi Crown Prince Mohammad bin Salman. The USD 21 billion deal had also covered other mineral, energy, petrochemical, food and agriculture projects.
The Aramco refinery will have a daily capacity of 250,000 to 300,000 barrels and is expected to be commissioned in about five to six years.
The oil city will also have a USD 1 billion petrochemical complex which is expected to lay the foundations of Pakistan’s petrochemical industry and will produce polyethylene and polypropylene.
Aside from the oil city, the local authorities are also developing an industrial zone which will be completed by 2023.