ISLAMABAD: A Sharjah-based consortium has shown interest in setting up a $250 million oil refinery in Kohat, which would initially produce 20,000 barrel oil per day and would be further enhanced to 40,000 barrel per day in two phases.
Sources said that the consortium representatives have also met Khyber Pukhtunkhwa Chief Minister in this regard and also offered to establish thermal power houses in the province.
Last year, the state-owned oil marketing company Pakistan State Oil (PSO) also signed a Memorandum of Understanding (MoU) with the government of Khyber Pakhtunkhwa for the establishment of an oil refinery in the province.
According to the MoU, PSO would set up a technologically advanced refinery with a capacity of 40,000 barrels per day (BPD) on about 400 acres of land in district Kohat-Khyber Pakhtunkhwa.
The project was envisaged to be set-up through a public-private partnership and would utilise crude oil from nearby indigenous supply sources. As per the PSO statement, the project was expected to be fully commissioned by 2016-17.
The project will be set-up through a public private partnership and will utilise crude oil from nearby indigenous supply sources for production of POL products conforming to Euro IV standards. The multi-million dollar project is expected to be fully commissioned by 2016-17.
