Pakistan and Iran are setting up a joint venture refinery near Karachi, at Hub in Balochistan. The refinery project was approved by the Economic Coordination Committee (ECC) in September 1998, but failed to make any headway at that time.
The refinery will be processing six million tons of Iranian heavy crude oil per year at price of USD 124.79 per ton. The expected yield of basic products are: diesel 3689 million tons, unlead gasoline 1.1 million tons, naphta 293,000 tons, sulphur 48,763 tons, coke 412,571 tons and LPG 93,000 tons. The total project cost is estimated at USD 1.23 billion.
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