$4.5bn refinery planned in Hub

ISLAMABAD: Pakistan is set to establish its first deep-conversion greenfield refinery project in Hub, Balochistan, involving an investment of $4.5 billion and the creation of around 2,000 jobs.

SPEC Refinery Pvt Ltd Chairman Zafar Sheikh held a meeting with Commerce Minister Jam Kamal to review progress on the project, which is being described as a major step towards strengthening the country’s energy security.

An official statement said the delegation briefed the commerce minister on the project’s progress and highlighted its strategic importance in reducing reliance on imported refined petroleum products, enhancing ene­rgy security, and promoting industrial development.

The proposed refinery will employ advanced deep-conversion technology to maximise the production of high-value petroleum products while processing a wide range of crude oil grades sourced from international markets.

Project to create 2,000 jobs, strengthen energy security

Project to create 2,000 jobs, strengthen energy security

During the meeting, the delegation sought government support in facilitating the implementation of the Greenfield Refinery Policy and expediting the issuance of remaining regulatory approvals required from the Federal Board of Revenue (FBR) for timely execution of the project.

They noted that the project represents a major long-term investment in Pakistan’s energy sector and has the potential to catalyse the........

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