KARACHI: A Chinese Company, M/s Mingyuan Holdings Group Company Limited, has offered to install an oil refinery near Port Qasim Karachi with the investment of $2 billion.
According to the details, the refinery estimated to refine over 10 million tons of oil annually to set the commodity in the local and international markets. The delegation of the Chinese company led by its Chairman Ji Hong Shui presented the offer during meeting with Chairperson, Sindh Board of Investment (SBI), Ms. Naheed Memon here.
The company also discussed to establish the industries relevant to the oil refinery in the area adjacent to Port Qasim, however, if the establishment of the refinery was not possible in the area of near Port Qasim Karachi they might consider Dhabeji, Gharo, Nooriabad, Thatta or Kotri.
Talking to the delegation, the chairperson SBI appreciated their offer and assured full cooperation to the Chinese company on behalf of Sindh government.
She called upon the members of the Chinese delegation to present their suggestions with regard to their required facilities like electricity, water and gas so as to take necessary action.
The members of the Chinese delegation decided to present their detailed suggestions in the next meeting with the chairperson SBI.
