Boosting Refinery Capacity
China’s Sinosure has committed $1 billion in financing for the expansion of Pakistan Refinery Limited (PRL), a project that will significantly enhance the country’s oil processing capabilities. The expansion aims to double PRL’s current crude processing capacity, increasing it from 50,000 barrels per day to 100,000 barrels per day. This marks a critical step in Pakistan’s efforts to modernize its energy infrastructure and meet growing domestic demands.
Key Agreements During Minister’s Visit
The announcement was made during Petroleum Minister Musadik Malik’s recent visit to China, where Sinosure confirmed their commitment to funding the project after thorough due diligence. An Engineering, Procurement, Construction, and Financing (EPCF) contractor is set to be appointed, ensuring the smooth execution of the expansion. This partnership underscores the strong economic and strategic ties between Pakistan and China, particularly in the energy sector.
Cutting-Edge Technology for Cleaner Fuels
The $1.7 billion Refinery Expansion and Upgrade Project (REUP) will introduce advanced technologies to produce EURO V standard fuels. This upgrade will not only improve PRL’s operational efficiency but also ensure compliance with modern environmental standards. By adopting cleaner and more efficient production methods, the refinery will contribute to reducing harmful emissions and supporting Pakistan’s environmental goals.
Alignment with National Energy Policy
This initiative is a crucial part of Pakistan’s broader energy infrastructure strategy, aligning with the country’s brownfield refinery policy. The expansion and upgrade of PRL will play a vital role in meeting the nation’s energy needs, ensuring energy security, and enhancing the overall economic stability of the country. With Sinosure’s backing, this project sets a new benchmark for future investments in Pakistan’s refining sector
