China backs Karachi refinery

[Hafizzz]

China backs Karachi refinery
Asia Times Online :: South Asia news, business and economy from India and Pakistan

China is to invest US$535 million to restart a stalled refinery project in Pakistan, which foreign investors and contractors abandoned amid the political turmoil in the country following the assassination of former prime minister Benazir Bhutto in December 2007.

Go China Pakistan friendship Go !!!

 

[somebozo]

Wasnt this refinery being built by Kuwaiti or Saudi group?

 

[Hafizzz]

Wasnt this refinery being built by Kuwaiti or Saudi group?

Nope. They all abandoned Pakistan.

 

[Spring Onion]

Please can someone sell PSO to China so that we could get rid of ghunda gardi of PPP and MQM over this entity

 

[faisaljaffery]

Political parties are also influencing Oil joints like OGDCL and PPL. Their Chairmen of BOD have been appointed by the Political involvement which could pave way for destruction of already screwed up oil and gas sector of Pakistan. Now a days Pakistan is only producing only 15% of Oil through internal resources and rest is being imported, despite that Pakistan has a potential not only to meet its own requirements but also to export the oil. This all bs is happening due to political involvement in the oil and gas sector of Pakistan other wise today we would not be losing such a heavy forigen exchange just on import of oil

 

[faisaljaffery]

One thing more... certain external powers (probabley gulf, india and iran) also do not want Pakistan to exploit its oil resevers and insurgency in Balauchistan is its result

 

[indianpatriot]

hmm...nice thing for Pakistan...stiff competition for India arriving!!

 

[somebozo]

Nope. They all abandoned Pakistan.

or they left due to zardari demanding his share??

It was a pure business venture for financial profit. How they they exactly "abandon Pakistan" care to elaborate please?

 

[HAIDER]

Its easy for China to import the oil, refined the oil for itself and plus resale it too. Chinese are very very smart people. The real cost comes when refining the oil.

 

[razgriz19]

why are u people arguing?
time to move on, dosn't matter who abadoned us or who did not
all that counts is that china is helping us. obviously there is something good for them too but they are still helping us here even after the militant threats in the area..

 

[mughaljee]

Old is "China" Gold