China willing to set up $5 billion oil refinery at Karachi

[Omar1984]

China willing to set up $5 billion oil refinery at Karachi

China has reportedly expressed willingness to set up an oil refinery near Karachi with an investment of $5 billion, official sources told Business Recorder.

For this purpose, China has requested the Government of Pakistan (GoP) to identify 4000 acres of land as early as possible.

Refinery, the GoP has been informed, will begin operations four years after development work starts formally.

This proposal will be further developed during the second meeting of China-Pakistan Joint Energy Working Group, which will commence from Tuesday (today) at a local hotel.

On Monday Minister for Water and Power, Syed Naveed Qamar, and the head of Chinese delegation Wu.

Guihuj held preliminary discussions, which mainly focused on Energy Infrastructure Fund (EIF) of $10 billion, renewable energy working group, formation of sectoral group and other issues.
The main focus of energy dialogue between the two countries will be Sindh-Engro coal mining and 1200 MW coal fired power plant and Sino Sindh Resources coal mining and 900 MW coal fired power plant.

In hydropower projects the main focus will be on 969 MW Neelum-Jehlum hydropower project, 4500 MW Diamer-Bhasha hydropower project and 1100 MW Kohala hydropower project.
Transmission system projects would include: (i) 500 kV Guddu transmission line; (ii) 220 kV Uch-II transmission line; (iii) dispersal of power from Neelum-Jehlum, Kohala, Karot and Azad Pattan hydropower projects; (iv) Thar Matiari transmission line project; and (v) dispersal of power from 630 MW Chashma Nuclear C3 and C4.
In renewable energy, three projects ie United Energy Pakistan Limited, 150 MW, China Three Gorges, 50 MW and Hydropower China, 100 MW, will come under discussion.

Other projects which will come under discussion will be: 425 Nandipur thermal power project, 548 MW Kaigah hydropower project and 640 MW Azad Pattan hydropower project.

The sources further revealed that other projects could also be included in the deliberations with the consent of both sides.

According to the sources, both sides have agreed to issue a "joint statement" instead of signing ceremony.

There are reports that during the first meeting JEWG in August last year, Beijing had conveyed to Islamabad that its investment in the water and power sector will be conditional on suspension of Public Procurement Regulatory Authority (PPRA) rules.


China willing to set up $5 billion oil refinery at Karachi | Business Recorder

 

[Pakistanisage]

Way to go China - Good Job, Bravo......


Long live China-Pakistan STRATEGIC PARTNERSHIP.

 

[ChineseTiger1986]

China's goal is to industrialize the developing nations, thus Pakistan is our very first priority.

 

[Omar1984]

China's goal is to industrialize the developing nations, thus Pakistan is our very first priority.

God bless China.

China is one of the few nations on earth who truly wants a prosperous Pakistan

 

[ChineseTiger1986]

God bless China.

China is one of the few nations on earth who truly wants a prosperous Pakistan

We must work together, so we can also break free from the control of the western imperialism.

 

[shuttler]

Great News!
Long live the Friendship!

 

[parkland]

great india is right beside and paksitan is going to china, come to us baby.

btw refining projects take long long time to implement.

 

[SHAMK9]

great india is right beside and paksitan is going to china, come to us baby.

btw refining projects take long long time to implement.

frustrations is all i see , thanks for the concerns though

 

[parkland]

frustrations is all i see , thanks for the concerns though

its not frustrations, my frnd. india is willing to invest in ur country.

 

[ChineseTiger1986]

I think China can achieve something bigger than the Marshall Plan in the near future, so many developing nations in Asia can become fully industrialized in the next 20 years.

 

[All-Green]

Too many projects in the air but not much completed on ground.
Let us hope we get down to business and complete one of the many mega projects we all hear about daily but cannot seem to reap the benefits of.
Our beloved leaders yearly sign on the Pakistan-Iran gas pipeline but somehow not much happens beyond the signatures and handshakes.
With a port like Gwadar and a province like Baluchistan one would have thought that by now thousands of workers would be working at the port and it shall be busy as hell so as to generate the much cried for funds in this province but that is also not happening.
Sad has been our fate in this regards.

Regarding trade, we should always welcome any neighbouring party which wants to invest in Pakistan.
To have good trade with neighbours means a very happy neighbourhood all in all.
This is the future that we should work towards.

However one line bothers me a bit...maybe we need not suspend the rules entirely but rather review them and update/change according to our current financial situation?
We all remember how the rules were discarded in the Rental Power Plant agreements and the end result is there for all to see.
There should always be some rules/guidelines in any project, otherwise it can be a huge disappointment.

"There are reports that during the first meeting JEWG in August last year, Beijing had conveyed to Islamabad that its investment in the water and power sector will be conditional on suspension of Public Procurement Regulatory Authority (PPRA) rules"

 

[yyetttt]

its not frustrations, my frnd. india is willing to invest in ur country.

Keep your money. $200 million can take 200 million out of poverty..

 

[Shinigami]

Keep your money. $200 million can take 200 million out of poverty..

words of wisdom

 

[parkland]

Keep your money. $200 million can take 200 million out of poverty..

u can take 3 billion every year from a frnd and call it an enemy. cant u let a true enemy invest 20 billion maybe will turn it into a frnd??

 

[regular]

China's goal is to industrialize the developing nations, thus Pakistan is our very first priority.

Oh Excellent newz brothr!! Excellent project!!!.....Thats why we Pakistanis Luvs China so much!!!......
LONG LIVE PAK_CHINA BROTHERHOOD.........

Too many projects in the air but not much completed on ground.
Let us hope we get down to business and complete one of the many mega projects we all hear about daily but cannot seem to reap the benefits of.
Our beloved leaders yearly sign on the Pakistan-Iran gas pipeline but somehow not much happens beyond the signatures and handshakes.
With a port like Gwadar and a province like Baluchistan one would have thought that by now thousands of workers would be working at the port and it shall be busy as hell so as to generate the much cried for funds in this province but that is also not happening.
Sad has been our fate in this regards.

Regarding trade, we should always welcome any neighbouring party which wants to invest in Pakistan.
To have good trade with neighbours means a very happy neighbourhood all in all.
This is the future that we should work towards.

However one line bothers me a bit...maybe we need not suspend the rules entirely but rather review them and update/change according to our current financial situation?
We all remember how the rules were discarded in the Rental Power Plant agreements and the end result is there for all to see.
There should always be some rules/guidelines in any project, otherwise it can be a huge disappointment.

"There are reports that during the first meeting JEWG in August last year, Beijing had conveyed to Islamabad that its investment in the water and power sector will be conditional on suspension of Public Procurement Regulatory Authority (PPRA) rules"

Yes! all this is only due to the US backed corrupt elites of our country. They are creating resistances in the execution of many many joint projects with our neighboring country like China and Iran.If we get rid of them then everything wiill be fine...