The United Energy Group of China and Pakistan Refinery Limited have signed a Memorandum of Understanding, indicating a significant $1.5 billion investment in the petroleum sector. Caretaker Prime Minister Anwaar-ul-Haq Kakar and Federal Energy Minister Muhammad Ali witnessed the ceremony.
Under this agreement, the investment’s objective is to boost the refinery’s petrol production capacity from 250,000 metric tons to 1.6 million metric tons and high-speed diesel from 0.6 million metric tons to 2 million metric tons.
This expanded production of petrol and high-speed diesel is anticipated to provide a cost-effective alternative to the expensive imported fuel.
