Dubai: The Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood has stated that United Arab Emirates is investing USD 4 billion to build a coastal oil refinery near Hub power plant, a news source reported. UAE investment company Mubadala is working with Pakistan’s energy company Pak-Arab Refinery Limited (Parco) for the purpose.
He was speaking at a gathering organised by Pakistan Business Council Dubai. Dawood was talking about Pakistan’s participation in Dubai Expo 2020 and said that Pakistan pavilion would be turned into a Pakistan cultural centre after the conclusion of Expo 2020. Pakistan Pavilion is expected to cost around USD 1 billion.